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Gelesis Grabs $22 Million Development Funding

Friday, March 27, 2015 5:44:00 AM PDT | VentureDeal
   Boston, Massachusetts  --  Medical device technology company Gelesis has secured $22 million in new investment.

Gelesis is commercializing various treatments for obesity and other related co-morbidities.

Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

$4 million of the amount received included the conversion of outstanding convertible promissory notes.

The company is backed by a syndicate of venture capital firms and other investment groups.

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