StockMarketWire.com - PureTech Health said affiliate company and obesity treatment developer Gelesis had raised $84.6m to fund the launch of a key product.

The raising included equity funding of $63.4m, led by private equity firm Vitruvian Partners.

The company was also awarded a $12.9m grant from the European Regional Development Fund and entered into a long-term $8.3m loan agreement.

The funds would be used primarily to support the US launch of Gelesis's Plenity product in the second half of 2020.




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