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.

“We're pleased to receive this...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.