Weight Loss Therapy Gets a Boost in $12M Financing
May 19, 2014
Gelesis, a clinical stage company developing a new category of therapy to treat overweight and diabetic patients, has raised $12 million in venture capital. It's the company's first financing in a while; it last raised funds in 2011, garnering a valuation of around $15 million. The funding comes as the company advances its lead product, Gelesis100, towards commercialization. The pill is designed to treat the physiological symptoms of hunger without surgery or systemically absorbed drugs, safely causing significant weight loss. PureTech Ventures was involved in the financing.