Sigrid Therapeutics raises further SEK10.6 million in oversubscribed rights issue for accelerated SiPore® commercialization
Swedish Health and Wellbeing company on track for 2023 consumer supplement launch and entry into the veterinary market
Stockholm, Sweden Monday 16th of January, 2023. Sigrid Therapeutics, a Swedish consumer health and wellbeing company today announced that it has raised an additional SEK10.6 million to accelerate commercialization of its SiPore® health and food supplement portfolio. Both current and new investors participated including recently appointed Chairman, Mattias Ankarberg. In addition to the funds, Sigrid views Ankarberg’s vast experience from the consumer industry, most recently at retail giant H&M, as ideal to help diversify its SiPore® technology into the food supplement, veterinary and oral health markets.
SiPore® is a revolutionary patented platform technology consisting of naturally sourced, carefully designed silica particles that limit the breakdown of foods by enzymes in the gut. This enables blood sugar and other metabolic levels to be controlled. The first medical application is in diabetes and pre-diabetes where Sigrid is set to initiate the SHINE clinical trial this year. However, SiPore® can be easily produced in a wide variety of formats for other health and wellbeing applications.
“In the current climate, the rapid completion and oversubscription of this new fund raise is a sign of confidence in both SiPore´s® huge potential and our commercialization strategy. In addition to our core prediabetes market, we have identified three major areas which can bring cashflow to the company in the near future – dietary supplements, veterinary products for cats and oral health - with these funds we can now implement our plans for each, “says Sana Alajmovic, Sigrid’s Co-Founder and CEO.
“Sigrid has continued to move forward at a high pace. A capsule product has been developed, the consumer pre-launch program is completed, and preparations for the world’s second largest commercial pre-diabetes study SHINE are coming to a close, adds Mattias Ankarberg, Sigrid’s Chairman.
For more information, please contact:
Sana Alajmovic, Co-Founder & CEO, Sigrid Therapeutics
Phone +46 72 389 3396,
Email: sana@sigridthx.com
Mattias Ankarberg, Chairman, Sigrid Therapeutics
Phone: +46 70 796 3831
Email: mattias@sigridthx.com
About Mesoporous silica particles (MSP)
Mesoporous silica particles (MSP) are a type of ingestible synthetic amorphous silica particles that can be produced with a large surface area and a range of pore sizes. Studies in mice, published in Nanomedicine1 have shown that food efficiency was reduced by 33% leading to a positive effect on metabolic profile with significant lower levels of adipose tissue formation and leptin, together with lower levels of circulating insulin. Weight gain was thus sufficiently attenuated. Additional pre-clinical results published in Advanced Healthcare Materials2 confirm these findings and are compatible with a mode of action whereby a portion of the enzymes are trapped inside the MSPs resulting in an enzyme-blocking effect reducing the break down food and thus reduce the energy uptake into the body.
About Sigrid Therapeutics
Sigrid Therapeutics (Sigrid) is a clinical-stage consumer focused health tech pioneering a new class of engineered materials to prevent and treat metabolic disease and disorders, including type 2 diabetes. The Company’s lead product candidate, SiPore21®, is an orally-administered medical device based on the Company’s proprietary platform technology, SiPore®. Designed to act locally in the gut, SiPore21®, consists of precisely engineered micron-sized silica particles with tailored porosity. Clinical data confirms the beneficial effects on SiPore21® on a range of metabolic parameters and its excellent safety profile3. Upon its approval, SiPore21®, will be the first medical treatment available for reduction of blood sugar levels in people at risk of developing type 2 diabetes. https://www.sigridthx.com/.
References
- Mesoporous Silica with Precisely Controlled Pores Reduces Food Efficiency and Suppresses Weight Gain in Mice: Mia Rinde, et al. https://www.futuremedicine.com/doi/10.2217/nnm-2019-0262
- Entrapping Digestive Enzymes with Engineered Mesoporous Silica Particles Reduces Metabolic Risk Factors in Humans: Erik R. Waara, et.al. https://onlinelibrary.wiley.com/doi/10.1002/adhm.202000057
- Engineered mesoporous silica reduces long-term blood glucose, HbA1c, and improves metabolic parameters in prediabetics: Jeanha Baek, et.al. https://www.futuremedicine.com/doi/10.2217/nnm-2021-0235
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