Gelesis raises $31.5M

Gelesis Inc. (Boston, Mass.) raised $31.5 million in a growth financing that came a day after Gelsis withdrew its proposed IPO. New investors including Cormorant Asset Management joined existing investors Invesco Asset Management, PureTech and Priztker/Vlock Family Office.

Gelesis is conducting the pivotal GLOW trial of Gelesis100, its superabsorbent biodegradable hydrogel that expands in the stomach to create pressure on the stomach walls and increase the feeling of satiety. It expects to submit a regulatory application to FDA in 1H17. ...