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Gelesis closes $30M financing round, plans lead product launch

Boston's Gelesis Inc. said it raised $30 million to prepare for the potential launch of its lead product.

The privately held biotechnology company is looking to submit Gelesis100, a weight loss treatment, for regulatory approvals in the U.S. and Europe this year.

Gelesis100 has been studied in more than 500 patients across five clinical studies throughout the U.S., Canada and Europe, and has shown weight loss, increased satiety, reduced hunger, and a consistent safety profile.

The company also plans to use proceeds to support the development of its other medicines for gastrointestinal disorders, including type 2 diabetes and non-alcoholic steatohepatitis.

Gelesis is an affiliate of PureTech Health plc.