Gelesis to go public via SPAC merger

US biotherapeutics company Gelesis is to go public via a merger with Capstar Special Purpose Acquisition (NYSE: CPSR), a special purpose acquisition company (SPAC).

Upon completion of the deal, the combined company’s securities are expected to be traded on the New York Stock Exchange under the symbol ‘GLS’.

Gelesis, which is advancing biomimetic superabsorbent hydrogels to treat excess weight and metabolic disorders, has one product approved by the US Food and Drug Administration (FDA), in the shape of the weight management drug Plenity (cellulose and citric acid).