Gelesis just last week drummed up a $22 million funding round, but that’s not stopping the Boston-based company from registering for an initial public offering worth $60 million.
Gelesis, which makes an anti-obesity pill using a super-absorbent hydrogel to induce feelings of satiety, said the Gelesis100 pill is also designed to improve glycemic control. The company expects to launch the product in the U.S. in 2019, assuming it wins FDA approval. Gelesis100 could hit the European market a year earlier, the company said.
A 2nd product, Gelesis200, is under development, according to the registration filing. Gelesis said the newer pill uses a hydrogel with different properties that "we believe could provide additional benefits for specific subpopulations and indications."
"When compared to Gelesis100, Gelesis200 hydrates more rapidly and creates a higher elastic response and viscosity but occupies a slightly smaller volume in the stomach. We believe that these properties could make Gelesis200 more suitable as a glycemic control product for prediabetics and Type II diabetics, who may or may not require weight loss," according to the filing.
Gelesis200 is in pre-clinical development, with clinical studies expected during the 2nd half of this year, Gelesis said. The company proposes to trade on the NASDAQ exchange under the GLSS symbol.
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