Allurion Technologies (ALUR) TD Cowen 45th Annual Healthcare Conference summary

Market opportunity and industry landscape

• Obesity represents a $50B+ global revenue opportunity by 2030, with 2B overweight and 1B obese individuals worldwide.

• Only 1% of eligible patients undergo bariatric surgery annually, highlighting unmet needs.

• GLP-1 drugs have driven market growth but face issues like weight regain, muscle loss, side effects, and high costs.

• Allurion targets patients seeking alternatives to surgery and GLP-1s, including those with moderate to severe obesity.

Product differentiation and clinical results

• The Allurion Balloon is a procedureless, swallowable device that induces satiety and is removed naturally after four months.

• Average weight loss is 15% of total body weight in four months, with 95% maintained at one year; repeat cycles can achieve 20%+ loss.

• Patients gain muscle mass during the program, contrasting with muscle loss seen in GLP-1 therapy.

• The device has a 10x lower serious adverse event rate than previous endoscopic balloons.

• Clinical studies show improvements in diabetes, hypertension, sleep apnea, and cholesterol.

Digital platform and AI integration

• The program includes an AI-powered mobile app, scale, and wearable integration for real-time analytics and behavior change.

• Coach Iris, a 24/7 AI coach, provides personalized support for nutrition, activity, sleep, and mental health.

• Providers use Allurion Insights, a mini-EMR with real-time analytics and AI guidance.

• The digital platform supports not only balloon patients but also those on GLP-1s and post-bariatric surgery.