Stockholm-based Sigrid Therapeutics has successfully raised $4 million in an oversubscribed funding round to support its innovative SiPore® technology. SiPore® is a natural, non-drug solution aimed at addressing the obesity and diabetes markets. The investment was made by both existing and new investors. The funds will be used to accelerate the commercialization of SiPore® in various sectors, including medical devices, food supplements, veterinary, and oral health. The company’s flagship product, SiPore21®, is currently undergoing clinical trials as a non-drug approach for managing prediabetes and weight control. SiPore21® uses a specially engineered silica mineral to prevent the breakdown of carbohydrates and fats in the digestive system.
“This funding will propel our efforts in establishing key partnerships and driving SiPore® technology to market. We are thrilled to have the backing of our investors as we move closer to providing effective solutions for obesity and diabetes management,” says Sana Alajmovic, Sigrid’s Co-Founder and CEO.
“Sigrid’s continued success is evident from the launch of one of the world’s largest prediabetes trial, SHINE, to SiPore21®’s medical device classification and the commercial traction in our oral health vertical. These accomplishments show the company is well on track to deliver on its exciting potential,” adds Mattias Ankarberg, Sigrid’s Chairman.
“We’re pleased that Sigrid Therapeutics’ recent share offering was oversubscribed by an impressive 50%. In today’s challenging financial climate, this achievement underscores the company’s quality and potential. Amidst concerns about obesity and diabetes, the demand for effective, non-drug therapies is evident. This success mirrors investor confidence and Sigrid’s commitment to pioneering drug-free solutions”, adds Lars Molinder, financial adviser to Sigrid Therapeutics.
Sigrid Therapeutics is a Swedish impact unicorn dedicated to revolutionizing obesity and diabetes management through its innovative SiPore® technology. The company’s flagship product, SiPore21®, is currently in SHINE clinical trials, offering a natural, non-drug solution for prediabetes progression and weight control. With a focus on impactful innovation, Sigrid Therapeutics is committed to enhancing the well-being of individuals worldwide.
Originally published on ArcticStartup : Original article