{{Short description|American biotechnology company}} {{Infobox company | name = Gelesis | logo = | type = Private | company_slogan = | founded = 2006 | traded_as = {{New York Stock Exchange|GLS}} | hq_location_city = Boston, Massachusetts, USA | key_people = John LaMattina, PhD – Chairman, Yishai Zohar - CEO and Founder, David Pass, PharmD – Chief Operating Officer | num_employees = | industry = Healthcare, Biotechnology | revenue = | operating_income = | net_income = | website = {{url|http://www.gelesis.com/}} }} '''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.<ref name=x1>{{cite web |url= https://www.xconomy.com/boston/2010/04/22/obesity-capsule-from-gelesis-made-to-swell-up-in-the-stomach-passes-first-human-trial/?single_page=true |title= Obesity Capsule From Gelesis, Made to Swell Up in the Stomach, Passes First Human Trial |date= April 22, 2010|work=Xconomy |last= Timmerman |first= Luke}}</ref><ref>{{Cite news|url=https://www.nytimes.com/2014/06/23/business/early-results-arrive-on-weight-loss-pills-that-expand-in-the-stomach.html|title=Early Results Arrive on Weight-Loss Pills That Expand in the Stomach|work=The New York Times |date=23 June 2014 |access-date=2018-09-28|language=en |last1=Pollack |first1=Andrew }}</ref> The company was founded in 2006 to develop medical devices and treatments for obesity.<ref name=":0" />
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,<ref name=":0">{{cite web|url=http://betaboston.com/news/2014/05/16/gelesis-raises-12-million-for-hunger-pill/|title=Gelesis raises $12 million for pill that staves off hunger|date=May 16, 2014|work=BetaBoston.com}}</ref><ref name="x1" /> and ExoTech Bio, an Israel-based research and development company.<ref name=":1">{{Cite news|url=https://www.xconomy.com/boston/2008/01/03/obesity-startup-gelesis-gobbles-up-16m-in-financing/|title=Xconomy: Obesity Startup Gelesis Gobbles Up $16M in Financing|date=2008-01-03|work=Xconomy|access-date=2018-09-28|language=en-US}}</ref> The company operates as an affiliate of PureTech Health.<ref>{{Cite web|url=https://www.thepharmaletter.com/article/gelesis-raises-30-million-to-fund-novel-weight-loss-therapy|title=Gelesis raises $30 million to fund novel weight loss therapy|last=Letter|first=The Pharma|website=www.thepharmaletter.com|language=en|access-date=2018-09-28}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/us-puretech-health-gelesis-study/puretechs-gelesis-says-obesity-drug-achieved-weight-loss-in-study-idUSKCN1C00PD|title=PureTech's Gelesis says obesity drug achieved weight loss in study|author=Reuters Editorial|work=U.S.|access-date=2018-09-28|language=en-US}}</ref> Former PureTech Ventures partner Yishai Zohar co-founded the company and served as CEO.<ref name=":1" />
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.<ref name="x1" />
In January 2008, the company raised $16 million in its first financing round, led by OrbiMed Advisors and Queensland BioCapital Funds.<ref name=":1" />
In 2010, the company passed the first human trials of its treatment.<ref name="x1" /><ref>{{Cite news|url=https://www.popsci.com/science/article/2010-04/obesity-pill-swells-your-stomach-making-you-full-you-even-start-eating|title=Anti-Obesity Pill Swells in Your Stomach, Making You Full Before You Even Start Eating|work=Popular Science|access-date=2018-09-28|language=en}}</ref> The company’s product was originally called Attiva, but was later renamed Gelesis100.<ref>{{Cite news|url=https://www.medicalnewstoday.com/articles/278703.php|title=Hydrogel 'smart pill' shows promise as weight loss aid|work=Medical News Today|access-date=2018-09-28|language=en}}</ref>
In 2014, Gelesis raised $12 million in its fifth funding round, bringing its total funding to $42 million.<ref>{{cite web|url=https://blogs.wsj.com/venturecapital/2014/05/16/the-daily-startup-medtronic-spinout-raises-40m-to-treat-sleep-apnea/|title=The Daily Startup: Medtronic Spinout Raises $40M to Treat Sleep Apnea|date=May 16, 2014|work=WSJ.com}}</ref><ref>{{Cite news|url=https://www.xconomy.com/boston/2014/05/16/gelesis-resurfaces-with-12m-preps-first-weight-loss-data/|title=Xconomy: Gelesis Resurfaces With $12M, Preps First Weight Loss Data|date=2014-05-16|work=Xconomy|access-date=2018-09-27|language=en-US}}</ref>
In March 2015, the company closed a $22 million funding round.<ref>{{Cite web|url=https://www.bizjournals.com/boston/blog/bioflash/2015/03/boston-weight-loss-biotech-gelesis-raises-22.html|title=Boston weight-loss biotech Gelesis raises $22M|website=www.bizjournals.com|access-date=2018-09-28}}</ref> In April 2015, the company announced an initial public offering (IPO) for $60 million,<ref>{{Cite news|url=http://fortune.com/2015/04/02/term-sheet-thursday-april-2/|title=Term Sheet -- Thursday, April 2|work=Fortune|access-date=2018-09-28|language=en}}</ref> but pulled out later that year.<ref>{{Cite web|url=https://www.bizjournals.com/boston/blog/health-care/2015/12/company-with-obesity-treatment-raises-31-5m-on.html|title=Company with obesity treatment raises $31.5M on heels of withdrawn IPO|website=www.bizjournals.com|access-date=2018-09-28}}</ref><ref name=":3">{{Cite web|url=https://www.fiercebiotech.com/medical-devices/gelesis-drops-ipo-raises-31-5m-for-pivotal-u-s-trial-hydrogel-weight-loss-capsule|title=Gelesis drops IPO, raises $31.5M for pivotal U.S. trial of hydrogel weight-loss capsule {{!}} FierceBiotech|website=www.fiercebiotech.com|language=en|access-date=2018-09-28}}</ref> In December 2015, Gelesis raised $31.5 million shortly after cancelling its IPO.<ref>{{Cite news|url=https://www.xconomy.com/boston/2015/12/18/months-after-postponed-ipo-gelesis-nabs-31-5m-and-a-new-investor/|title=Xconomy: Months After Postponed IPO, Gelesis Nabs $31.5M And a New Investor|date=2015-12-18|work=Xconomy|access-date=2018-09-28|language=en-US}}</ref><ref name=":3" />
In 2018, Gelesis raised $30 million in preparation for regulatory submissions in the U.S. and Europe and initial marketing of Gelesis100.<ref>{{Cite news|url=https://www.forbes.com/sites/matthewherper/2018/03/05/in-two-months-biotech-startups-raised-more-money-than-in-all-of-2013/#2a483a727be7|title=In Two Months, Biotech Startups Raised More Money Than In All Of 2013|last=Herper|first=Matthew|work=Forbes|access-date=2018-03-05|language=en}}</ref><ref name=":2">{{Cite web|url=https://www.fiercebiotech.com/medtech/gelesis-raises-30m-to-gear-up-for-weight-loss-launch|title=Gelesis raises $30M to gear up for weight loss launch {{!}} FierceBiotech|website=www.fiercebiotech.com|language=en|access-date=2018-03-05}}</ref>
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."<ref>{{cite web |title=Gelesis®, the Maker of Plenity® for Weight Management, Will Debut as a Publicly Traded Company Following the Closing of Its Business Combination with Capstar |url=https://ir.gelesis.com/news/news-details/2022/Gelesis-the-Maker-of-Plenity-for-Weight-Management-Will-Debut-as-a-Publicly-Traded-Company-Following-the-Closing-of-Its-Business-Combination-with-Capstar/default.aspx |website=ir.gelesis.com |access-date=2022-01-18}}</ref>
==References== {{reflist}}
==External links== * http://www.gelesis.com/
Category:Biotechnology companies of the United States Category:American companies established in 2008 Category:Companies based in Boston Category:Biotechnology companies established in 2008 Category:2008 establishments in Massachusetts