LONDON, UK: PureTech Health plc , a clinical-stage biotherapeutics company noted that its Founded Entity, Gelesis, Inc. announced the completion of its business combination with Capstar Special Purpose Acquisition Corp. The publicly traded company will be known as Gelesis Holdings Inc. and will begin trading on the New York Stock Exchange under the ticker symbol “GLS” on January 14, 2022.
Both Gelesis Inc. and Capstar shareholders voted to approve the business combination. The transaction generated approximately $105 million in gross proceeds, which will be mainly used to support the broad launch of Plenity.
“We are pleased with the completion of this transaction, which now makes Gelesis the third publicly-traded Founded Entity for PureTech,” said Eric Elenko, Chief Innovation and Strategy Officer at PureTech.
“Our public Founded Entities – which include Gelesis, Karuna and Vor – represent an important component of our unique value-generating model for developing new medicines. We look forward to the success of Gelesis as a public company as they execute on the broad launch of Plenity across the United States.”
Both Gelesis Inc. and Capstar shareholders voted to approve the business combination. The transaction generated approximately $105 million in gross proceeds, which will be mainly used to support the broad launch of Plenity.
Gelesis is a consumer-centered biotherapeutics company advancing a novel category of treatments for weight management and gut related chronic diseases. www.gelesis.com