Gelesis develops a novel hydrogel platform to treat overweight, obesity and other chronic metabolic diseases. Its lead product, Plenity, is an orally administered, non-systemic superabsorbent hydrogel that was cleared by the FDA for adults with BMI 25–40 and has received a CE mark for the EEA; Plenity is currently available in limited supply in the U.S. Plenity is taken as capsules before lunch and dinner and works mechanically in the GI tract by forming thousands of gel particles that increase volume and induce satiety. Gelesis is advancing additional hydrogel candidates, including Gelesis200 for weight loss and glycemic control in patients with type 2 diabetes and prediabetes, and programs targeting NASH and chronic idiopathic constipation. The company emphasizes patient-initiated care and plans to leverage digital technologies to expand access to care as it expands geographically. Gelesis recently announced a commercialization partnership in China that includes upfront licensing fees and an equity investment and provides the potential for future milestone and royalty payments. Gelesis develops a superabsorbent hydrogel platform intended to treat overweight and obesity and other GI‑related chronic diseases. Its lead product, PLENITY, is an oral, non‑systemic hydrogel that received FDA clearance in April 2019 as an aid for weight management in adults with BMI 25–40 kg/m2 when used with diet and exercise. PLENITY is made by cross‑linking modified cellulose and citric acid into particles that absorb water, form thousands of small gel pieces to increase stomach and small intestine volume and elasticity, and are partially broken down and eliminated in the large intestine. Gelesis anticipates a U.S. prescription launch of PLENITY in the second half of 2020 and is developing a second candidate, Gelesis200, optimized for weight loss and glycemic control in type 2 diabetes and prediabetes, while advancing applications in NASH and chronic idiopathic constipation. Financially, the company secured $84.6 million in new capital and nearly $100 million in total this year to support commercialization. The latest equity financing totaled $63.4 million led by Vitruvian Partners; Gelesis also secured $23.5 million in non‑dilutive grants this year and entered a long‑term, low‑interest $8.3 million loan to enhance financial flexibility. Gelesis was co‑founded by PureTech Health and operates a proprietary manufacturing facility that qualified for ERDF support regulated by the Puglia Region of Italy. Gelesis develops a mechanobiology platform and hydrogel-based mechanotherapeutics targeting obesity and other chronic diseases of the gastrointestinal pathway. Its lead candidate, Gelesis100, completed a pivotal weight-loss trial in September 2017 and is slated for regulatory submissions in the US and Europe in 2018. The company is conducting a proof-of-concept study of Gelesis200, optimized for weight loss and glycemic control in patients with type 2 diabetes and prediabetes. Gelesis is expanding its pipeline with new hydrogel compositions evaluated in preclinical studies for conditions such as NAFLD, NASH and intestinal mucositis. The company intends to use recent financing proceeds to support commercial-stage manufacturing, product launch preparations, operations, and clinical advancement of its pipeline. Gelesis is a Boston-based clinical-stage biotech focused on first-in-class, orally administered hydrogel products to induce weight loss and improve glycemic control. Its lead candidate, Gelesis100, is an oral capsule containing small hydrogel particles designed to act along the gastrointestinal tract to safely induce weight loss and improve glycemic control. A multicenter, double-blind, placebo-controlled proof-of-concept study of Gelesis100 showed statistically significant weight loss, with particularly dramatic results in prediabetics. The company is also developing Gelesis200, created from the same proprietary platform and optimized to improve glycemic control in prediabetics and type 2 diabetics. Gelesis plans to use financing to complete a six-month U.S. FDA pivotal trial of Gelesis100 (topline data expected in the first half of 2017) and to support commercial readiness activities. It also expects to complete first-in-human studies of Gelesis200, with a three-month proof-of-concept readout anticipated in the second half of 2016. Gelesis is a clinical-stage biotechnology company focused on developing products to induce weight loss and improve glycemic control in overweight and obese patients, including those with prediabetes and diabetes. Its lead product, Gelesis100, is an orally administered capsule containing small hydrogel particles designed to employ multiple mechanisms along the gastrointestinal tract to induce weight loss and improve glycemic control. The company also plans to advance a pipeline product, Gelesis200, into the clinic. Gelesis closed a $22M equity financing that included conversion of approximately $4M of outstanding convertible promissory notes. Proceeds will be used to continue clinical development of Gelesis100 and to move Gelesis200 into clinical trials. The company is led by founder and CEO Yishai Zohar and has recently expanded its scientific advisory board and board of directors with several obesity-treatment experts and new directors.

Total raised

$215M

Funding rounds

8

Latest round

Equity

Latest activity

Jun 2020