Weight-loss treatment developer Gelesis, Inc. has completed a $12-million financing round. Led by PureTech, which founded Gelesis in 2006, and the Pritzker/Vlock Family Office, the round’s proceeds will be used to advance the company’s lead product, Gelesis100, an anti-obesity pill that purportedly expands in the stomach to make a person feel full. According to the company, Gelesis100 is a “smart pill that is designed to treat the physiological symptoms of hunger without surgery, invasive procedures or systemic absorption.”

The Boston, Massachusetts-based company reportedly plans to complete a pivotal study of Gelesis100 in overweight and obese patients by the fourth quarter of 2016 and a proof-of-concept study in pre-diabetic and diabetic overweight and obese patients by the third quarter of 2015. See Gelesis, Inc. News Release and Biocentury.com, May 16, 2014.