Business
GLS: New $15M Plenity Pre-Paid Order; $55M Total
GLS: New $15M Plenity Pre-Paid Order; $55M Total.
About this update from Puretech Health Plc
[{"type":"text","content":"\n \n \n \n 21 June 2022\n \n \n \n \n PureTech Health plc\n \n \n \n \n \n \n \n \n PureTech Founded Entity Gelesis Announces Additional $15 Million Pre-Order for Plenity®, Bringing Total Pre-Paid Orders from Ro for Plenity to $55 Million\n \n \n \n \n \n Following the successful debut of the national broad awareness media campaign, with a new record-high for prescription requests, Gelesis' telehealth distribution partner, Ro, placed an additional pre-order for the weight management product\n \n \n \n \n \n Gelesis received $45 million in pre-paid orders from Ro in the last 12 months\n \n \n \n \n \n PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (\"PureTech\" or the \"Company\"), a clinical-stage biotherapeutics company noted that its Founded Entity, Gelesis Holdings, Inc. (NYSE: GLS) (\"Gelesis\"), a consumer-focused biotherapeutics company, announced that Ro, a leading and rapidly growing U.S. direct-to-patient healthcare company, has placed a $15 million pre-paid order for Gelesis' commercial product for weight management, Plenity®. This is in addition to previous Plenity pre-orders from Ro totaling $40 million.\n \n 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. Following the launch of the campaign, the number of individuals seeking a new prescription increased 140% during the first quarter to reach record highs. Gelesis reported $7.5 million in net product revenue in the first quarter of 2022, a 142% increase over the first quarter 2021.\n \n \n The full text of the announcement from\n Gelesis\n is as follows:\n \n \n \n \n \n Gelesis Announces Additional $15 Million Pre-Order for Plenity®, Bringing Total Pre-Paid Orders from Ro for Plenity to $55 Million\n \n \n 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\n \n \n Gelesis received $45 million in pre-paid orders from Ro in the last 12 months\n \n BOSTON, June 21, 2022 - Geles...