| Company type | Private |
|---|---|
| NYSE: GLS | |
| Industry | Healthcare, Biotechnology |
| Founded | 2006 |
| Headquarters | |
Key people | John LaMattina, PhD – Chairman, Yishai Zohar - CEO and Founder, David Pass, PharmD – Chief Operating Officer |
| Website |
www |
Gelesis is a biotechnology company located in Boston, Massachusetts that developed the weight loss device Gelesis100 (Plenity) for use in overweight and obesity. The company produces Gelesis100, which is a superabsorbent hydrogel capsule that expands in the stomach, creating a feeling of fullness, helping people reduce the amount of food they eat. [1] [2] The company was founded in 2006 to develop medical devices and treatments for obesity. [3]
Gelesis Holdings, Inc. together with its two affiliates, filed for voluntary Chapter 7 liquidation in the United States Bankruptcy Court for the District of Delaware on October 30, 2023. The debtor listed its assets among the 50 and the $100 million and liabilities of $44.34 million. The Debtor is represented by Kenneth Listwak of Troutman Pepper Hamilton Sanders LLP as counsel.
History
Gelesis was founded by PureTech Ventures, a life sciences venture firm based in Boston, [3] [1] and ExoTech Bio, an Israel-based research and development company. [4] The company operates as an affiliate of PureTech Health. [5] [6] Former PureTech Ventures partner Yishai Zohar co-founded the company and served as CEO. [4]
The company's technology was co-invented by Alessandro Sannino, a professor of engineering at the University of Salento, who had been researching the idea prior to the launch of Gelesis. [1]
In January 2008, the company raised $16 million in its first financing round, led by OrbiMed Advisors and Queensland BioCapital Funds. [4]
In 2010, the company passed the first human trials of its treatment. [1] [7] The company’s product was originally called Attiva, but was later renamed Gelesis100. [8]
In 2014, Gelesis raised $12 million in its fifth funding round, bringing its total funding to $42 million. [9] [10]
In March 2015, the company closed a $22 million funding round. [11] In April 2015, the company announced an initial public offering (IPO) for $60 million, [12] but pulled out later that year. [13] [14] In December 2015, Gelesis raised $31.5 million shortly after cancelling its IPO. [15] [14]
In 2018, Gelesis raised $30 million in preparation for regulatory submissions in the U.S. and Europe and initial marketing of Gelesis100. [16] [17]
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." [18]
References
- ^ a b c d Timmerman, Luke (April 22, 2010). "Obesity Capsule From Gelesis, Made to Swell Up in the Stomach, Passes First Human Trial". Xconomy.
- ^ "Early Results Arrive on Weight-Loss Pills That Expand in the Stomach". Retrieved 2018-09-28.
- ^ a b "Gelesis raises $12 million for pill that staves off hunger". BetaBoston.com. May 16, 2014.
- ^ a b c "Xconomy: Obesity Startup Gelesis Gobbles Up $16M in Financing". Xconomy. 2008-01-03. Retrieved 2018-09-28.
- ^ Letter, The Pharma. "Gelesis raises $30 million to fund novel weight loss therapy". www.thepharmaletter.com. Retrieved 2018-09-28.
-
^ Reuters Editorial.
"PureTech's Gelesis says obesity drug achieved weight loss in study". U.S. Retrieved 2018-09-28.
{{ cite news}}:|author=has generic name ( help) - ^ "Anti-Obesity Pill Swells in Your Stomach, Making You Full Before You Even Start Eating". Popular Science. Retrieved 2018-09-28.
- ^ "Hydrogel 'smart pill' shows promise as weight loss aid". Medical News Today. Retrieved 2018-09-28.
- ^ "The Daily Startup: Medtronic Spinout Raises $40M to Treat Sleep Apnea". WSJ.com. May 16, 2014.
- ^ "Xconomy: Gelesis Resurfaces With $12M, Preps First Weight Loss Data". Xconomy. 2014-05-16. Retrieved 2018-09-27.
- ^ "Boston weight-loss biotech Gelesis raises $22M". www.bizjournals.com. Retrieved 2018-09-28.
- ^ "Term Sheet -- Thursday, April 2". Fortune. Retrieved 2018-09-28.
- ^ "Company with obesity treatment raises $31.5M on heels of withdrawn IPO". www.bizjournals.com. Retrieved 2018-09-28.
- ^ a b "Gelesis drops IPO, raises $31.5M for pivotal U.S. trial of hydrogel weight-loss capsule | FierceBiotech". www.fiercebiotech.com. Retrieved 2018-09-28.
- ^ "Xconomy: Months After Postponed IPO, Gelesis Nabs $31.5M And a New Investor". Xconomy. 2015-12-18. Retrieved 2018-09-28.
- ^ Herper, Matthew. "In Two Months, Biotech Startups Raised More Money Than In All Of 2013". Forbes. Retrieved 2018-03-05.
- ^ "Gelesis raises $30M to gear up for weight loss launch | FierceBiotech". www.fiercebiotech.com. Retrieved 2018-03-05.
- ^ "Gelesis®, the Maker of Plenity® for Weight Management, Will Debut as a Publicly Traded Company Following the Closing of Its Business Combination with Capstar". ir.gelesis.com. Retrieved 2022-01-18.