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.
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]
