Gelesis, Inc., a Boston, MA-based clinical stage company developing a new category of therapy to safely treat overweight, obese and diabetic patients, raised $12m in funding.
Investors included the Pritzker/Vlock Family Office as well as founder PureTech and a group of veterans from the pharmaceutical, biotech and finance sectors.
The company, which has now raised over $42M to date, intends to use the capital to develop its lead product, Gelesis100, toward commercialization.
Led by Yishai Zohar, Founder & CEO, and Dr. John Lamattina, Chairman, Gelesis is advancing GELESIS100, a smart pill that is designed to treat the physiological symptoms of hunger without surgery, invasive procedures or systemic absorption. To date, Gelesis100 has generated compelling safety and efficacy data through a series of clinical, preclinical and in vitro studies.
The company recently hired Dr. Rob Armstrong, former Vice President, Global External R&D at Eli Lilly, as Chief Business Officer.