VOR - Weight loss aid maker Gelesis going public through reverse merger with SPAC Capstar

Hazal Ak/iStock via Getty Images Gelesis, makers of the weight loss pill Plenity, is going public through a reverse merger with SPAC Capstar Special Purpose Acquisition Corp. ([[CPSRU]] -0.6%). The deal is expected to give Gelesis an equity value of about $1.3B, and give the company gross proceeds of $376M. The merger is expected to close in Q4. Gelesis is proposing to trade on the NYSE under the ticker "GLS." Gelesis plans a full commercial launch of Plenity, which costs $98 per month, later this year. Plenity capsules contain a non-systemic biomimetic hydrogel that is not absorbed but instead acts locally in the gastrointestinal tract. Taken with water before meals, they are designed to help people feel more full with smaller meals. Gelesis was founded by PureTech which also launched Karuna ([[KRTX]] +2.8%) and Vor ([[VOR]] -2.6%)

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Weight loss aid maker Gelesis going public through reverse merger with SPAC Capstar