Stockholm-based consumer health and wellbeing startup Sigrid Therapeutics has raised €536.3K (MSEK10.6) in an oversubscribed rights issue for accelerated SiPore® commercialization from both existing and new investors including recently appointed Chairman, Mattias Ankarberg. Sigrid is a clinical-stage consumer-oriented health tech pioneering a new class of engineered materials to prevent and treat metabolic diseases and disorders, including type 2 diabetes. The funds will be helpful in expanding SiPore technology into new markets, such as food supplements, veterinary care, and oral health. Additionally, Ankarberg’s significant experience in the consumer industry will be invaluable in this process.
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 cash flow 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.
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