Gelesis is a biotechnology company located in

Boston, Massachusetts Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

that developed the weight loss device Gelesis100 (Plenity) for use in

overweight Being overweight 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 more than ...

and

obesity Obesity is a medical condition, considered by multiple organizations to be a disease, in which excess Adipose tissue, body fat has accumulated to such an extent that it can potentially have negative effects on health. People are classifi ...

. The company produces Gelesis100, which is a superabsorbent

hydrogel A hydrogel is a Phase (matter), biphasic material, a mixture of Porosity, porous and Permeation, permeable solids and at least 10% of water or other interstitial fluid. The solid phase is a water Solubility, insoluble three dimensional network ...

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. 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, and ExoTech Bio, an Israel-based research and development company. The company operates as an affiliate of

PureTech Health PureTech Health is an American biotechnology company which develops medicines to combat serious diseases. It is listed on the London Stock Exchange. History The company was founded by Daphne Zohar, an American entrepreneur, in 2005. It was the su ...

. 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 (, 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 activities in the academic ye ...

, 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 (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 one of the world's large ...

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