Gelesis Closes $31.5M Growth Financing

Gelesis, a Boston, MA-based clinical stage biotechnology company focused on the development of products to safely induce weight loss and improve glycemic control, closed a $31.5m growth financing round. Backers included Cormorant Asset Management, and current investors Invesco Asset Management, PureTech and the Priztker/Vlock Family Office.

Gelesis is developing a breakthrough therapy (Gelesis100) to fulfill the unmet need for a product that can safely induce significant weight loss. Gelesis100 was developed for overweight and obese individuals, as well as patients with impaired fasting glucose and diabetes who would particularly benefit from weight reduction but for whom weight loss is often a challenge. We believe that a safe, effective treatment for obesity and diabetes (two of the largest health problems in the world) would have a major impact on human health. Gelesis is headquartered in Boston, Massachusetts and was founded by PureTech and a group of leading obesity researchers. Gelesis is led by a strong management team with expertise in business, material sciences and medicine. The scientific advisory board and clinical advisors are key opinion leaders in the obesity field. Gelesis has generated extensive in vitro, in vivo and clinical data supporting the efficacy and safety of Gelesis100.

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