Gelesis Garners $31,500,000 New Financing Round

  • Feed Type
  • Date
    12/18/2015
  • Company Name
    Gelesis
  • Mailing Address
    222 Berkeley St. Boston, MA 02116 USA
  • Company Description
    Gelesis is a Boston-based company developing a breakthrough treatment for obesity and other related co-morbidities.
  • Website
    http://www.gelesis.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $31,500,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Gelesis plans to use the proceeds from the financing to enable completion of a six-month U.S. Food and Drug Administration (FDA) pivotal trial of Gelesis100 with topline data expected to be available in the first half of 2017, as well as to support commercial readiness activities in preparation for a potential launch. Funds will also be used for the expected completion of first-in-human studies of its glycemic control product, Gelesis200, with anticipated read-out of a three-month proof-of-concept study expected in the second half of 2016. Gelesis200 was created with the same proprietary technology platform as Gelesis100 and its properties are optimized to improve glycemic control in patients with prediabetes and type 2 diabetes who may or may not require weight loss.
  • M&A Terms
  • Venture Investor
    Cormorant Asset Management

Trending on Xconomy