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Gelesis secures $84M to commercialize weight management drug Plenity

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Gelesis secures $84M to commercialize weight management drug Plenity

Gelesis Inc. secured over $84 million by selling shares worth $63.4 million and receiving $21.2 million in grants and loans.

Private equity firm Vitruvian Partners LLP was the largest investor in the equity trade.

Gelesis intends to use the capital secured to commercialize its FDA-approved weight management drug Plenity, which works by absorbing water in the stomach and mixing it with food to make a meal feel more filling.

Gelesis has obtained nearly $100 million this year to support the U.S. launch of Plenity, the company said in a statement.