As weight loss leaders boom, one biotech contender abandons its quest with Chapter 7 liquidation

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 mid-week, weeks af­ter PureTech gave up on a plan to bring the strug­gling out­fit back in­to the fold. PureTech is led by Daphne Zo­har, who is mar­ried to Gele­sis founder and CEO Yishai Zo­har, though a spokesper­son tells End­points News that she re­cused her­self from any of the de­ci­sion-mak­ing re­gard­ing Gele­sis.

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