Following the successful debut of the national
broad awareness media campaign, with a new record-high for
prescription requests, the company’s telehealth distribution
partner, Ro, placed an additional pre-order for the weight
management product
Gelesis received $45 million in pre-paid orders
from Ro in the last 12 months
Gelesis announced today that Ro, a leading and rapidly growing
U.S. direct-to-patient healthcare company, has placed a $15 million
pre-paid order for the company’s commercial product for weight
management, Plenity®. This is in addition to previous Plenity
pre-orders from Ro totaling $40 million.
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Gelesis announced today that Ro, a
leading and rapidly growing U.S. direct-to-patient healthcare
company, has placed a $15 million pre-paid order for the company’s
commercial product for weight management, Plenity. This is in
addition to previous Plenity pre-orders from Ro totaling $40
million. (Photo: Business Wire)
Gelesis launched the first wave of its national broad awareness
media campaign for Plenity on January 31, 2022, which corresponded
with record high levels of web traffic and prescription requests.
Since the broad consumer launch, Plenity has become one of the most
sought-after offerings on Ro’s platform. After a consultation with
a licensed healthcare provider, if they qualify, individuals can be
approved for a prescription within 24 hours. The treatment is then
shipped directly to their home and arrives within 2 days, at $98
for a 28-day supply.
“We believe we are highly differentiated in the rapidly growing
weight management category with a treatment option that is
available across a wide BMI spectrum and where our members can
continue to enjoy the foods they love, feeling satisfied with
smaller portions,” said David Pass, Pharm. D, Gelesis’ Chief
Commercial and Operating Officer. “We believe that access to well
tolerated, affordable, evidence-based care is one of the biggest
barriers in effective weight management. We are excited to see the
growing indicators of the success of our commercial model. We have
acquired more than half of our members since the start of the media
campaign in February.”
Following the launch of the campaign, the number of individuals
seeking a new prescription increased 140% during the first quarter
to reach record highs. The company reported $7.5 million in net
product revenue in the first quarter of 2022, a 142% increase over
the first quarter 2021.
Gelesis has also reported growth in the more traditional
healthcare provider (HCP) channel following the launch of the
campaign and the company expects consumer demand to continue to
drive uptake. Notably 40-50% of these HCP prescriptions were
requested by the consumer (the company’s baseline before the media
campaign began was 25%).
Plenity has the largest addressable market of any prescription
weight management approach, and 150 million American adults could
qualify for treatment, including the tens of millions of Americans
with a BMI between 25 and 30 who generally do not qualify for other
prescription weight loss treatments. About 70% of Plenity members
had never tried a prescription weight management product before,
indicating Plenity is bringing new people into the category of
prescription weight management products.
About Gelesis
Gelesis Holdings Inc. (NYSE: GLS) (“Gelesis”) is a
consumer-centered biotherapeutics company and the maker of
Plenity®, which is inspired by nature and FDA cleared to aid in
weight management. Our first-of-their-kind non-systemic
superabsorbent hydrogels are made entirely from naturally derived
building blocks. They are inspired by the composition and
mechanical properties of raw vegetables, taken by capsule, and act
locally in the digestive system, so people feel satisfied with
smaller portions. Our portfolio includes Plenity® and potential
therapies in development for patients with Type 2 Diabetes,
Non-alcoholic Fatty Liver Disease (NAFLD)/Non-alcoholic
Steatohepatitis (NASH), and Functional Constipation. For more
information, visit gelesis.com, or connect with us on Twitter
@GelesisInc.
Plenity® is indicated to aid weight management in adults with
excess weight or obesity, a Body Mass Index (BMI) of 25–40 kg/m²,
when used in conjunction with diet and exercise.
Important Safety Information about Plenity
- Patients who are pregnant or are allergic to cellulose, citric
acid, sodium stearyl fumarate, gelatin, or titanium dioxide should
not take Plenity.
- To avoid impact on the absorption of medications:
- For all medications that should be taken with food, take them
after starting a meal.
- For all medications that should be taken without food (on an
empty stomach), continue taking on an empty stomach or as
recommended by your physician.
- The overall incidence of side effects with Plenity was no
different than placebo. The most common side effects were diarrhea,
distended abdomen, infrequent bowel movements, and flatulence.
- Contact a doctor right away if problems occur. If you have a
severe allergic reaction, severe stomach pain, or severe diarrhea,
stop using Plenity until you can speak to your doctor.
Rx Only. For the safe and proper use of Plenity or more
information, talk to a healthcare professional, read the Patient
Instructions for Use, or call 1-844-PLENITY.
Forward-Looking Statements
Certain statements, estimates, targets and projections in this
press release may constitute “forward-looking statements” within
the meaning of the federal securities laws. The words “anticipate,”
“believe,” continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “strive,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that statement is not forward-looking.
Forward-looking statements include, but are not limited to,
statements regarding Gelesis’ or its management team’s
expectations, hopes, beliefs, intentions or strategies regarding
the future, including statements regarding projections, forecasts,
or other characterizations of future events or circumstances,
including any underlying assumptions. Such forward-looking
statements are based on the information currently available to
Gelesis and on assumptions Gelesis has made and, as a result, such
statements are subject to risks and uncertainties. Gelesis intends
these forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act and Section 21E of the Exchange Act, and
Gelesis makes this statement for purposes of complying with those
safe harbor provisions. Forward-looking statements speak only as of
the date they are made. Readers are cautioned not to put undue
reliance on forward-looking statements, and Gelesis assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Gelesis gives no assurance that any
expectations set forth in this press release will be achieved.
Various risks and uncertainties (some of which are beyond Gelesis’
control) or other factors could cause actual future results,
performance or events to differ materially from those described
herein. Some of the factors that may impact future results and
performance include, without limitation: (i) the size, demand and
growth potential of the markets for Plenity® and Gelesis’ other
product candidates and Gelesis’ ability to serve those markets;
(ii) the degree of market acceptance and adoption of Gelesis’
products; (iii) Gelesis’ ability to develop innovative products and
compete with other companies engaged in the weight loss industry;
(iv) Gelesis’ ability to finance and complete successfully the
commercial launch of Plenity® and its growth plans, including new
possible indications and the clinical data from ongoing and future
studies about liver and other diseases; (v) failure to realize the
anticipated benefits of the business combination between Gelesis
and Capstar Special Purpose Acquisition Corp. (“Capstar”),
including as a result of a delay or difficulty in integrating the
businesses of Capstar and Gelesis; (vi) the ability of Gelesis to
issue equity or equity-linked securities or obtain debt financing
in the future; (vii) Gelesis’ ability to continue as a going
concern; (viii) the outcome of any legal proceedings instituted
against Capstar, Gelesis, or others in connection with the business
combination; (ix) the ability of Gelesis to maintain its listing on
the New York Stock Exchange; (x) the risk that the business
combination disrupts the plans and operations of Gelesis as a
result of Gelesis being a publicly listed issuer; (xi) the
regulatory pathway for Gelesis’ products and responses from
regulators, including the FDA and similar regulators outside of the
United States; (xii) the ability of Gelesis to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain Gelesis’ management and key employees; (xiii)
costs related to the business combination, including costs
associated with Gelesis being a publicly listed issuer; (xiv)
changes in applicable laws or regulations; (xv) the possibility
that Gelesis may be adversely affected by other economic, business,
regulatory and/or competitive factors; (xvi) Gelesis’ estimates of
expenses and profitability; (xvii) ongoing regulatory requirements,
(xviii) any competing products or technologies that may emerge,
(xix) the volatility of the telehealth market in general, or
insufficient patient demand; (xx) the ability of Gelesis to defend
its intellectual property and satisfy regulatory requirements;
(xxi) the impact of the COVID-19 pandemic on Gelesis’ business;
(xxii) the limited operating history of Gelesis; (xxiii) the
potential impact of inflation on Gelesis’ operating expenses and
costs of goods; and (xxiv) other important factors discussed in the
“Risk Factors” section of Gelesis’ most recent Annual Report on
Form 10-K, and in other filings that Gelesis makes with the
Securities and Exchange Commission. These filings address other
important risks and uncertainties that could cause actual results
and events to differ materially from those contained in the
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220621005474/en/
Media & Investor
Relations Katie Sullivan ksullivan@gelesis.com
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