BOSTON, Sept. 15 /PRNewswire/ -- Gelesis, a Boston-based obesity company, announced today that it has been named to the FierceBiotech "Fierce 15" list, designating it as one of the top emerging biotech companies of 2010. The editors evaluated hundreds of privately-held firms based on company vision, revenue potential, quality of deals, strength of technology, partnerships, and competitive market position. Gelesis was determined to be one of the "fiercest" with its novel approach to tackling obesity.
John Carroll, FierceBiotech's Editor said "This is the first year FierceBiotech readers got a chance to directly nominate a company for the Fierce 15, and some of our most influential subscribers picked Gelesis as one of this year's most promising biotech companies in the industry."
"Gelesis has one of the most novel approaches to the complex challenge of obesity drug discovery that I have seen, both while running worldwide basic research at Merck, and subsequently in the biotech world," said Dr. Ben Shapiro, former Executive Vice President of Worldwide Basic and External Research at Merck and a Senior Partner at PureTech Ventures.
Obesity is the largest healthcare-related opportunity in the world, with close to two billion individuals being either overweight or obese according to the World Health Organization. No one has been successful at developing a safe and effective treatment for obesity despite the multi-billion dollar potential for such a product.
Pharmaceutical attempts have been limited by modest efficacy and challenging safety profiles. Surgical intervention to reduce stomach volume mechanically is effective but the use of this invasive approach is limited to morbidly obese patients. Gelesis has taken an innovative biotech approach to the surgical volume reduction mechanism. Th