The device is a small implant, which includes interlinked beads with magnetic cores.

Torax noted that device can be placed around the proximal stomach to create a smaller stomach pouch.

The magnetic beads have been designed to respond dynamically to pressure changes in the stomach pouch, in order to reduce the capacity of stomach.

Torax Medical president and CEO Todd Berg said the concept of a Magnetic Gastric Band has the potential to provide next generation banding technology for the treatment of obesity.

"This further expands the potential of Torax Medical’s Magnetic Augmentation technology platform," Medical added.

Obesity-related conditions include some of the leading causes of preventable death, comprising heart disease, stroke, type 2 diabetes and certain types of cancer.

Torax develops and markets products that are used to treat sphincter disorders by using its technology platform Magnetic Sphincter Augmentation (MSA).

Currently, the company is marketing the LINX Reflux Management System for the treatment of GERD in the US and Europe, as well as the FENIX Continence Restoration System to treat Fecal Incontinence (FI) in Europe.