Research & Development
Gelesis raises USD84m in new capital to support commercialisation of Plenity
9 December 2019 -

Biotechnology company Gelesis said on Friday that it expects to receive USD84.6m in new capital in support of the strategic large scale commercial availability of the weight management hydrogel Plenity in the second half of 2020 in the US.

This latest round of equity funding of USD63.4m was led by private equity firm Vitruvian Partners and included other investors, complemented by USD21.2m in new, non-dilutive grant funding and loans to further support commercialization efforts.

In total, the company has obtained nearly USD100m this year to support the US launch of Plenity.

Plenity is an oral, non-systemic, superabsorbent hydrogel that has received US FDA clearance as an aid in weight management in overweight and obese adults with a BMI of 25–40 kg/m2, when used in conjunction with diet and exercise. Plenity hydrogel increases the volume and elasticity of the stomach and small intestine contents and induces a feeling of fullness and satiety, concluded the company.

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