Gelesis is a biotechnology company located in Boston, Massachusetts that developed the weight loss device Gelesis100 (Plenity) for use in

overweight Being overweight or fat is having more body fat than is optimally healthy. Being overweight is especially common where food supplies are plentiful and lifestyles are sedentary. , excess weight reached epidemic proportions globally, with mo ...

and

obesity Obesity is a medical condition, sometimes considered a disease, in which excess body fat has accumulated to such an extent that it may negatively affect health. People are classified as obese when their body mass index (BMI)—a person's we ...

. The company produces Gelesis100, which is a superabsorbent

hydrogel A hydrogel is a crosslinked hydrophilic polymer that does not dissolve in water. They are highly absorbent yet maintain well defined structures. These properties underpin several applications, especially in the biomedical area. Many hydrogels ar ...

capsule that expands in the stomach, creating a feeling of fullness, helping people reduce the amount of food they eat. The company was founded in 2006 to develop

medical devices A medical device is any device intended to be used for medical purposes. Significant potential for hazards are inherent when using a device for medical purposes and thus medical devices must be proved safe and effective with reasonable assura ...

and treatments for obesity.

History

Gelesis was founded by PureTech Ventures, a life sciences venture firm based in Boston, and ExoTech Bio, an Israel-based research and development company. The company operates as an affiliate of

PureTech Health PureTech Health is a biotechnology company which develops medicines to combat serious diseases. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. History The company was founded by Daphne Zohar, an American ent ...

. Former PureTech Ventures partner Yishai Zohar co-founded the company and served as CEO. The company's technology was co-invented by Alessandro Sannino, a professor of engineering at the

University of Salento The University of Salento ( it, Università del Salento, called until 2007 ''Università degli Studi di Lecce'') is a university located in Lecce, Italy. It was founded in 1955 by Giuseppe Codacci Pisanelli. The university of Salento commenced act ...

, who had been researching the idea prior to the launch of Gelesis. In January 2008, the company raised $16 million in its first financing round, led by

OrbiMed Advisors OrbiMed (also known as OrbiMed Advisors) is an American investment firm based in New York City, United States. It is focused on making public and private investments in the Healthcare and Biotechnology industries. OrbiMed is considered to be the ...

and Queensland BioCapital Funds. In 2010, the company passed the first human trials of its treatment. The company’s product was originally called Attiva, but was later renamed Gelesis100. In 2014, Gelesis raised $12 million in its fifth funding round, bringing its total funding to $42 million. In March 2015, the company closed a $22 million funding round. In April 2015, the company announced an initial public offering (IPO) for $60 million, but pulled out later that year. In December 2015, Gelesis raised $31.5 million shortly after cancelling its IPO. In 2018, Gelesis raised $30 million in preparation for regulatory submissions in the U.S. and Europe and initial marketing of Gelesis100. In January 2022, the company completed a business combination with Capstar Special Purpose Acquisition Corp. and commenced trading on the New York Stock Exchange under the ticker symbol “GLS."

References

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External links

* http://www.gelesis.com/ Biotechnology companies of the United States American companies established in 2008 Companies based in Boston Biotechnology companies established in 2008 2008 establishments in Massachusetts