Gelesis Expands Team to Advance Further Clinical Development of its Novel Obesity & Diabetes Therapy & Discloses Recent $12M Funding - KNOE 8 News; KNOE-TV; KNOE.com |

Gelesis Expands Team to Advance Further Clinical Development of its Novel Obesity & Diabetes Therapy & Discloses Recent $12M Funding

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Gelesis, Inc.

BOSTON, May 16, 2014 /PRNewswire/ -- Gelesis, Inc., a clinical stage company developing a new category of therapy to safely treat overweight, obese and diabetic patients, has raised $12M as it advances the development of its lead product, Gelesis100, toward commercialization, bringing the total amount Gelesis has raised to over $42M

GELESIS100 is a smart pill that is designed to treat the physiological symptoms of hunger without surgery, invasive procedures or systemic absorption. To date, Gelesis100 has generated compelling safety and efficacy data through a series of rigorous clinical, preclinical and in vitro studies. 

"I am particularly enthusiastic about the product Gelesis is developing. This approach is so unique that it's not just 'first-in-class,' rather represents a whole new class of therapies that has the potential to be a game changer in our arsenal for treating overweight, obese and pre-diabetic patients," said Dr. Caroline Apovian FACN, Professor of Medicine and Pediatrics, in the section of Endocrinology, Diabetes, and Nutrition, at Boston University School of Medicine.

Gelesis has also expanded its leadership team with the hiring of Dr. Rob Armstrong, former Vice President, Global External R&D at Eli Lilly, as Chief Business Officer. Dr. Armstrong spearheaded a number of innovative initiatives at Lilly including the development of an integrated global network of R&D partnerships and the creation of external funding mechanisms to develop innovative drugs in the Chorus translational medicine engine.

"We're so glad to have Rob join us. He was an important entrepreneurial force within Lilly and his initiatives represent a movement towards smarter approaches to therapeutic research and development," said Yishai Zohar, Founder & CEO of Gelesis.

Investors included the Pritzker/Vlock Family Office as well as founder PureTech and a group of prominent senior leaders from the pharmaceutical, biotech and finance sectors. 

"We're very excited both by Gelesis100's development to date and by its path forward to commercialization, as supported by this funding," said Dr. John Lamattina, Chairman of Gelesis and former President of R & D at Pfizer, "at a time when tremendous unmet needs exist in the treatment of obesity and diabetes, we see this as a critical opportunity to advance a safe and effective treatment with potential to dramatically improve outcomes."

About Gelesis
Gelesis is a clinical stage company developing a new category of therapy to safely treat overweight, obese and diabetic patients. The Gelesis executive and advisory team includes the world's top experts in obesity research and clinical development, former regulatory leaders, entrepreneurs and innovators in advanced materials. Gelesis was co-founded by PureTech, a venture creation company tackling tomorrow's biggest healthcare problems.

©2012 PR Newswire. All Rights Reserved.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Woman kidnapped baby to raise as own

    Woman kidnapped baby to raise as own

    Thursday, July 31 2014 1:53 PM EDT2014-07-31 17:53:31 GMT
    MADISON, Wis. (AP) - Federal prosecutors say a Colorado woman faked a pregnancy and kidnapped her newborn nephew in Wisconsin in hopes of passing him off as her own.
    MADISON, Wis. (AP) - Federal prosecutors say a Colorado woman faked a pregnancy and kidnapped her newborn nephew in Wisconsin in hopes of passing him off as her own.
  • 28 Monroe area businesses cited for selling to minors

    28 Monroe area businesses cited for selling to minors

    Tuesday, July 29 2014 11:51 AM EDT2014-07-29 15:51:09 GMT
    Baton Rouge, La. (KNOE 8 News ATC) - Agents with the Office of Alcohol and Tobacco Control recently conducted compliance checks at 173 businesses in the Monroe and West Monroe areas. During those compliance checks, 28 of the businesses, which consist of area restaurants, bars and convenience stores, were caught selling alcohol and tobacco products to minors.
    Baton Rouge, La. (KNOE 8 News ATC) - Agents with the Office of Alcohol and Tobacco Control recently conducted compliance checks at 173 businesses in the Monroe and West Monroe areas. During those compliance checks, 28 of the businesses, which consist of area restaurants, bars and convenience stores, were caught selling alcohol and tobacco products to minors.
  • Thursday Update: Missing teen located

    Thursday Update: Missing teen located

    Thursday, July 31 2014 11:57 AM EDT2014-07-31 15:57:37 GMT
    MOREHOUSE PARISH, La. (KNOE 8 News MPSD) - The Morehouse Parish Sheriff's Office is searching for a teen who was reported missing Tuesday morning.Alex Housewright was last scene Tuesday around 7:00 AM at his home on Yeldell Road in Morehouse Parish.
    MOREHOUSE PARISH, La. (KNOE 8 News MPSD) - The Morehouse Parish Sheriff's Office is searching for a teen who was reported missing Tuesday morning.Alex Housewright was last scene Tuesday around 7:00 AM at his home on Yeldell Road in Morehouse Parish.
  • Cops: 2 people shot in high-rise

    Cops: 2 people shot in high-rise

    Thursday, July 31 2014 1:59 PM EDT2014-07-31 17:59:07 GMT
    APNewsNow. CHICAGO (AP) - Chicago police say two people have been shot inside a downtown high-rise office building.
    APNewsNow. CHICAGO (AP) - Chicago police say two people have been shot inside a downtown high-rise office building.
  • Woman "grazed" by lightning while sitting on her couch.

    Woman "grazed" by lightning while sitting on her couch.

    Thursday, July 31 2014 12:51 PM EDT2014-07-31 16:51:38 GMT
    If there's one place Theresa Szelest thought she'd be safe from lightning, it was inside her house.
    If there's one place Theresa Szelest thought she'd be safe from lightning, it was inside her house.
  • Man accused of stealing blank checks to fund drug habit

    Man accused of stealing blank checks to fund drug habit

    Wednesday, July 30 2014 6:53 PM EDT2014-07-30 22:53:34 GMT
    FARMERVILLE, La. (KNOE 8 News UPSO) - A Farmerville man has been accused by an elderly couple of taking money from them to feed his narcotics problem.
    FARMERVILLE, La. (KNOE 8 News UPSO) - A Farmerville man has been accused by an elderly couple of taking money from them to feed his narcotics problem.
  • Pitcher arraigned on sexual assault charges

    Pitcher arraigned on sexual assault charges

    Thursday, July 31 2014 1:49 PM EDT2014-07-31 17:49:19 GMT
    DETROIT (AP) - Minor league pitcher Evan Reed has been arraigned on charges of sexually assaulting a woman at a downtown Detroit hotel.
    DETROIT (AP) - Minor league pitcher Evan Reed has been arraigned on charges of sexually assaulting a woman at a downtown Detroit hotel.
  • Water bottle company moves production to Oklahoma

    Water bottle company moves production to Oklahoma

    Thursday, July 31 2014 1:47 PM EDT2014-07-31 17:47:49 GMT
    APNewsNow. OKLAHOMA CITY (AP) - The CEO of a bottled water business has bought a multimillion-dollar machine to produce the company's entire inventory in Oklahoma.
    APNewsNow. OKLAHOMA CITY (AP) - The CEO of a bottled water business has bought a multimillion-dollar machine to produce the company's entire inventory in Oklahoma.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.