Gelesis, a Boston, MA-based biotechnology company developing mechanotherapeutics to treat chronic diseases related to the gastrointestinal (GI) pathway, closed a $30m financing round.
The company intends to use the funds to support commercial-stage manufacturing, product launch preparations, operations, and clinical advancement of the pipeline of additional product candidates for gastrointestinal disorders, including Type 2 diabetes and non-alcoholic steatohepatitis/non-alcoholic fatty liver disease (NASH/NAFLD). It also plans to submit Gelesis100 for regulatory approvals in the US and Europe in 2018.
Led by David Pass, PharmD, Chief Operating Officer and Head of Commercial, Gelesis is developing a novel mechanobiology platform to treat obesity and other chronic diseases related to the GI pathway. In September 2017, the company completed a pivotal trial for weight loss evaluating its lead product candidate Gelesis100. Additionally, it is conducting a proof-of-concept study for its second candidate, Gelesis200, which is optimized for weight loss and glycemic control in patients with type 2 diabetes and prediabetes. New hydrogel compositions based on the Gelesis mechanobiology platform technology are also being explored through an expanded pipeline with preclinical studies in other GI-related conditions such as non-alcoholic fatty liver disease (NAFLD), non-alcoholic steatohepatitis (NASH) and intestinal mucositis.