Gelesis went public via a SPAC merger with Capstar Special Purpose Acquisition in a $1bn deal.

Gelesis, a biotherapeutics company aiming to transform weight management using a proprietary biomimetic superabsorbent hydrogel technology, went public via a SPAC merger with Capstar Special Purpose Acquisition, a blank cheque company sponsored by affiliates of Capstar Partners, in a $1bn deal. "Yishai and the Gelesis team have developed a tremendous solution that is poised to transform the weight management industry. We raised our Capstar SPAC last year with the goal of finding a high-growth, disruptive business that is helping people live a better, healthier life. Gelesis fits that criteria perfectly and we are elated to partner with them as they start their exciting next leg of growth," Steve Hicks, Capstar Chairman and CEO.