Weight loss drugs were heralded as one of the biggest innovations in biopharma in 2023, as the GLP-1 contenders swelled into megablockbusters. But for one small biotech looking to make it big in the business of shedding pounds, this year marks the end of the line on a long and winding trail that led to biotech Boot Hill. Gelesis, which was backed by PureTech, quietly filed for Chapter 7 bankruptcy liquidation, weeks after PureTech gave up on a plan to bring the struggling outfit back into the fold.
Read the full article: As Weight Loss Leaders Boom, One Biotech Contender Abandons Its Quest with Chapter 7 Liquidation //
Source: https://endpts.com/as-weight-loss-leaders-boom-one-biotech-contender-abandons-its-quest-with-chapter-7-liquidation