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Intragastric balloons (IGBs) are an established treatment option for obesity. Major barriers to dissemination of IGBs include lack of long-term efficacy outcomes, safety concerns, cost, and tolerability. We developed a novel ingestible magnetically inflated balloon capsule (IMI-BC) in hopes of overcoming these challenges. The IMI-BC is significantly cheaper than IGBs currently available on the market. We performed proof-of-concept animal studies and a first-in-human feasibility study to demonstrate the feasibility of inflating the IMI-BC using an external magnet. Further studies are currently being conducted to evaluate the safety, tolerability, and long-term efficacy of the IMI-BC. When fully developed, we anticipate that this device will benefit obese patients.