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PureTech Health's Founded Entity, Gelesis, has completed a business combination with Capstar Special Purpose Acquisition Corp. Gelesis will begin trading on the New York Stock Exchange under the ticker symbol 'GLS' on January 14, 2022, after securing approximately $105 million in gross proceeds. These funds will primarily support the national launch of Plenity, an FDA-cleared weight management product. With 71 million Americans having gained weight during the pandemic, Gelesis aims to address the rising demand for effective weight management solutions.
Gelesis, known for its FDA-cleared weight management product, Plenity, has successfully completed its business combination with Capstar Special Purpose Acquisition Corp., leading to Gelesis trading under the ticker 'GLS' on the New York Stock Exchange starting January 14, 2022. The transaction raised approximately $105 million, which will primarily support the nationwide launch of Plenity. CEO Yishai Zohar highlighted the growing demand for weight management solutions, particularly after the pandemic, as 71 million Americans gained weight and over half sought to lose it.
Gelesis has appointed
Gelesis, the maker of Plenity®, unveiled an edible billboard in New York City to challenge restrictive dieting norms. Made from seasonal holiday cakes inspired by vegetables, it promotes the message that enjoying favorite foods is compatible with weight loss. The billboard will be active on December 17-18, showcasing free desserts to the public. Gelesis aims to shift the conversation around weight management, emphasizing a balanced approach. Plenity is FDA-cleared and helps users manage weight by increasing satiety with smaller portions. Gelesis plans further launches using proceeds from its merger with Capstar Special Purpose Acquisition Corp. (NYSE: CPSR).
PureTech Health announces the launch of Plenity, an FDA-cleared weight management aid, now available across the United States. The company also appointed Joy Bauer as Chief Nutrition Officer, who will provide nutrition counseling and education for Plenity members. Plenity is designed to help individuals manage weight by feeling satisfied with smaller portions. A subscription costs
Gelesis announces that Plenity®, its FDA-cleared weight management treatment, is now widely available in the United States for adults with a BMI of 25 to 40 kg/m². Joy Bauer, a prominent nutrition authority, has been appointed as Chief Nutrition Officer to enhance education for healthcare professionals and provide support for Plenity members. The subscription for Plenity is priced at $98 for a four-week supply. Gelesis also detailed a business combination with Capstar Special Purpose Acquisition Corp. (CPSR), which aims to support consumer activation around Plenity.
PureTech Health's Founded Entity, Gelesis, announced a $30 million pre-order for its weight management product, Plenity®, from Ro, a leading direct-to-patient healthcare company. The new commercial manufacturing facility is now producing Plenity at scale to meet increasing demand, which has exceeded supply since its beta launch in 2020. Ro anticipates a staggering 1,500% YoY revenue growth for Plenity from December 2020 to December 2021, solidifying weight management as a top request on their platform.
Gelesis has announced the completion of its new commercial manufacturing facility, allowing large-scale production of Plenity®. The company secured a $30 million fully paid pre-order from Ro, a U.S. telehealth company, for this weight management product. Since the beta launch in 2020, demand has exceeded supply, leading to nearly 70,000 users starting their weight management journey. With projections indicating 1,500% year-over-year revenue growth, Gelesis is well-positioned to meet rising demand while ensuring that more patients can access Plenity through Ro's platform.
PureTech Health announces a groundbreaking paper published in Nature’s Scientific Reports detailing the development of the first superabsorbent hydrogel technology from naturally derived materials.
This innovation is aimed at addressing obesity and gut-related conditions by mimicking the properties of raw vegetables. The research shows that these hydrogels protect gut tissue from toxins in ex-vivo models. Their product, Plenity, is FDA-cleared and assists in weight management, with future product candidates poised to target various indications.
Gelesis has published a groundbreaking paper in Nature's Scientific Reports, detailing its innovative superabsorbent hydrogel technology, designed to address obesity and gut-related conditions. This technology mimics the properties of raw vegetables, providing therapeutic benefits, including protection against gut toxin damage. Gelesis' FDA-cleared product, Plenity®, is now available by prescription to assist with weight management in adults. The company is advancing a pipeline of additional therapeutic candidates targeting various gut-related ailments.
