PureTech-backed Gelesis wins biotech's latest SPAC deal, planning to bring weight loss product to up to 150M Americans
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The latest PureTech-founded biotech is heading to the New York Stock Exchange, and it comes through a new SPAC reverse merger.
Developing weight-management pills that are on the cusp of a national rollout, Gelesis will reverse merge with Capstar Special Purpose Acquisition Corp., the entities announced Monday morning. The deal will give Gelesis access to the $376 million raised from the SPAC, as well as another $100 million in PIPE funding.
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