Gelesis Holdings starts life after Capstar SPAC deal
The PureTech Health (Nasdaq: PRTC) founded entity Gelesis has announced the completion of its business combination with Capstar Special Purpose Acquisition Corp (NYSE: CPSR).
Known as Gelesis Holdings, the combined entity will begin trading on the New York Stock Exchange on Friday under the ticker symbol GLS, with $105 million in proceeds from the merger going towards the US launch of the weight-loss medication Plenity.
"The closing of this transaction allows us to accelerate our efforts to bring forward this innovative and FDA-cleared solution to help people achieve their weight goals"This product is designed to help people feel satisfied with smaller portions so they can eat less and lose weight, while enjoying foods as part of a reduced calorie diet. It is taken orally as three capsules with 16 ounces of water twice a day, 20 minutes before lunch and dinner.
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