PureTech Affiliate Gelesis Named One of the World’s Most Innovative Companies for 2020 by Fast Company
List honours businesses making most profound impact on both industry and culture
PureTech Health plc (LSE: PRTC) (“PureTech,” or the “Company”), a clinical stage biotherapeutics company dedicated to discovering, developing and commercialising highly differentiated medicines for devastating diseases, is pleased to note that its affiliate, Gelesis, was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2020. The list honours the businesses making the most profound impact on both industry and culture, and Gelesis earned the standing of #5 in the biotech category.
Eric Elenko, PhD, chief innovation officer at PureTech, said: “We congratulate Gelesis on this noteworthy recognition from Fast Company, which honours the top companies from across the world. We are very proud of Gelesis’ progress to date, and we look forward to the US commercialisation of Plenity™ later this year.”
The full text of the announcement from Gelesis is as follows:
Gelesis Named One of the World’s Most Innovative Companies for 2020 by Fast Company
BOSTON – March 10, 2020 – Gelesis, a biotechnology company developing a novel hydrogel platform technology to treat obesity and other chronic diseases related to the gastrointestinal (GI) tract, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2020.
The list honours the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. Gelesis earned the standing of #5 in the biotech category. This year’s full Most Innovative Companies list features 434 businesses from 39 countries.
The first product based on Gelesis’ patented hydrogel, Plenity™, an orally administered, non-systemic and non-stimulant aid to weight management, was cleared for use by the FDA in adults with a Body Mass Index (BMI) of 25–40 kg/m2, when used in conjunction with diet and exercise. It is the only prescription weight management product indicated for use by overweight adults with a BMI as low as 25 kg/m2, making it available for the largest number of adults affected by overweight and obesity of any prescription weight-management aid.
Gelesis’ product pipeline includes possible treatments for a range of GI diseases, including NASH and NAFLD, type 2 diabetes, chronic constipation, and weight management in adolescent overweight and obesity.
“Our mission is to improve the lives of the millions of people struggling with excess weight and it’s an incredible honour to be recognised for that work,” said Yishai Zohar, CEO and founder of Gelesis. “This recognition from Fast Company kicks off an exciting year with the initial commercial launch of Plenity later in 2020.”
Fast Company’s editors and writers sought out the most groundbreaking businesses on the planet and across myriad industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.
Fast Company’s Most Innovative Companies issue (March/April 2020) is now available online at fastcompany.com/most-innovativecompanies/2020, as well as in app form via iTunes and on newsstands beginning March 17, 2020. The hashtag is #FCMostInnovative.
Gelesis is developing a novel hydrogel platform technology to treat overweight and obesity and chronic diseases related to the GI pathway. Gelesis’ proprietary approach is designed to act mechanically in the GI pathway to potentially alter the course of certain chronic diseases. In April 2019, Gelesis received FDA clearance for its lead product candidate, Plenity™, as an aid for weight management in overweight and obese adults with a Body Mass Index (BMI) of 25-40 kg/m2, when used in conjunction with diet and exercise. Gelesis anticipates Plenity will be available by prescription in the US in the second half of 2020. Additionally, Gelesis is developing its second investigational candidate, Gelesis200, a hydrogel optimised for weight loss and glycaemic control in patients with type 2 diabetes and prediabetes. Novel hydrogel mechanotherapeutics based on the Gelesis platform technology are also being advanced in other GI inflammatory conditions, such as non-alcoholic steatohepatitis (NASH) and Chronic Idiopathic Constipation (CIC). The Gelesis executive and advisory team includes some of the world’s leading experts in obesity, materials science, chronic disease research, and commercialisation. Gelesis was co-founded by PureTech Health (LSE: PRTC), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercialising highly differentiated medicines for devastating diseases. For more information, visit gelesis.com or connect with us on Twitter @GelesisInc.
Plenity™ is an oral, non-systemic, superabsorbent hydrogel which has received FDA clearance as an aid in weight management in overweight and obese adults with a BMI of 25–40 kg/m2, when used in conjunction with diet and exercise. It is made by cross-linking two naturally derived building blocks, modified cellulose and citric acid, that create a three-dimensional matrix. Plenity particles rapidly absorb water in the stomach and homogenously mix with ingested foods. Rather than forming one large mass, it creates thousands of small individual gel pieces with the elasticity (firmness) of solid plant-based foods (e.g., vegetables) without caloric value. The Plenity hydrogel increases the volume and elasticity of the stomach and small intestine contents and induces a feeling of fullness and satiety. Once it arrives in the large intestine, the hydrogel is partially broken down by enzymes and loses its three-dimensional structure along with most of its absorption capacity. The released water is reabsorbed in the large intestine, and the remaining cellulosic material is eliminated through the body’s natural digestive processes. PLENITY is considered a medical device because it achieves its primary intended purpose through mechanical modes of action consistent with mechanobiology constructs. For more information, visit myplenity.com.
Important Safety Information
- PLENITY is contraindicated in patients who are pregnant or are allergic to cellulose, citric acid, sodium stearyl fumarate, gelatin or titanium oxide.
- PLENITY may alter the absorption of medications.
- Avoid use in patients with the following conditions: esophageal anatomic anomalies, including webs, diverticuli, and rings; suspected strictures (such as patients with Crohn’s disease); or complications from prior gastrointestinal (GI) surgery that could affect GI transit and motility.
- Use with caution in patients with active GI conditions such as gastro-esophageal reflux disease (GERD), ulcers or heartburn.
- Overall, the most common treatment related adverse events were GI-related with 38% of adults in the PLENITY group and 28% of adults in the placebo group.
- The overall incidence of adverse events (AEs) in the PLENITY group was no different than the placebo group.
Rx Only. For the safe and proper use of PLENITY, refer to the Instructions for Use.
ABOUT FAST COMPANY
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About PureTech Health
PureTech is a clinical stage biotherapeutics company dedicated to discovering, developing and commercialising highly differentiated medicines for devastating diseases, including intractable cancers, lymphatic and gastrointestinal diseases, central nervous system disorders and inflammatory and immunological diseases, among others. The Company has created a broad and deep pipeline through the expertise of its experienced research and development team and its extensive network of scientists, clinicians and industry leaders. This pipeline, which is being advanced both internally and through PureTech’s affiliates, is comprised of 23 product candidates and one product that has been cleared by the US Food and Drug Administration (FDA). All of the underlying programmes and platforms that resulted in this pipeline of product candidates were initially identified or discovered and then advanced by the PureTech team through key validation points based on the Company’s unique insights into the biology of the brain, immune and gut, or BIG, systems and the interface between those systems, referred to as the BIG Axis.
For more information, visit www.puretechhealth.com or connect with us on Twitter @puretechh.
Forward Looking Statement
This press release contains statements that are or may be forward-looking statements, including statements that relate to the company's future prospects, developments, and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks and uncertainties described in the risk factors included in the regulatory filings for PureTech Health plc. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.