Gelesis

Gelesis is a privately held biotechnology company located in Boston, Massachusetts. It was founded in 2006 to develop medical devices and treatments for obesity.[1] The company developed hydrogel capsules that are intended to expand in the stomach and create a feeling of fullness faster, helping people reduce the amount of food they eat.[2][3]

Gelesis
Private
IndustryHealthcare, Biotechnology
Founded2006
Headquarters
Boston, Massachusetts, USA
Key people
John LaMattina, PhD – Chairman, Yishai Zohar - CEO and Founder, David Pass, PharmD – Chief Operating Officer
Websitewww.gelesis.com

History

Gelesis was founded by PureTech Ventures, a life sciences venture firm based in Boston,[1][2] 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.[2]

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.[2][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]

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References
  1. "Gelesis raises $12 million for pill that staves off hunger". BetaBoston.com. May 16, 2014.
  2. Timmerman, Luke (April 22, 2010). "Obesity Capsule From Gelesis, Made to Swell Up in the Stomach, Passes First Human Trial". Xconomy.
  3. "Early Results Arrive on Weight-Loss Pills That Expand in the Stomach". Retrieved 2018-09-28.
  4. "Xconomy: Obesity Startup Gelesis Gobbles Up $16M in Financing". Xconomy. 2008-01-03. Retrieved 2018-09-28.
  5. Letter, The Pharma. "Gelesis raises $30 million to fund novel weight loss therapy". www.thepharmaletter.com. Retrieved 2018-09-28.
  6. Editorial, Reuters. "PureTech's Gelesis says obesity drug achieved weight loss in study". U.S. Retrieved 2018-09-28.
  7. "Anti-Obesity Pill Swells in Your Stomach, Making You Full Before You Even Start Eating". Popular Science. Retrieved 2018-09-28.
  8. "Hydrogel 'smart pill' shows promise as weight loss aid". Medical News Today. Retrieved 2018-09-28.
  9. "The Daily Startup: Medtronic Spinout Raises $40M to Treat Sleep Apnea". WSJ.com. May 16, 2014.
  10. "Xconomy: Gelesis Resurfaces With $12M, Preps First Weight Loss Data". Xconomy. 2014-05-16. Retrieved 2018-09-27.
  11. "Boston weight-loss biotech Gelesis raises $22M". www.bizjournals.com. Retrieved 2018-09-28.
  12. "Term Sheet -- Thursday, April 2". Fortune. Retrieved 2018-09-28.
  13. "Company with obesity treatment raises $31.5M on heels of withdrawn IPO". www.bizjournals.com. Retrieved 2018-09-28.
  14. "Gelesis drops IPO, raises $31.5M for pivotal U.S. trial of hydrogel weight-loss capsule | FierceBiotech". www.fiercebiotech.com. Retrieved 2018-09-28.
  15. "Xconomy: Months After Postponed IPO, Gelesis Nabs $31.5M And a New Investor". Xconomy. 2015-12-18. Retrieved 2018-09-28.
  16. Herper, Matthew. "In Two Months, Biotech Startups Raised More Money Than In All Of 2013". Forbes. Retrieved 2018-03-05.
  17. "Gelesis raises $30M to gear up for weight loss launch | FierceBiotech". www.fiercebiotech.com. Retrieved 2018-03-05.
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