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Obesity Capsule Maker Wants $60M IPO After $22M Financing

Law360, New York (April 2, 2015, 9:36 PM EDT) -- Gelesis Inc. filed for a $60 million initial public offering on Wednesday, the same day it secured $22 million in private financing, as it continues testing a new obesity treatment.

The Boston-based biotech company has not yet decided how many shares it will offer or a price for the offering. The private financing came in exchange for convertible preferred stock.

Both sources of income will be used to help the company develop its weight-loss therapy, which is currently in clinical trials.

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