This financing round was raised from US, Irish and Swedish investors alongside a large-scale industrial production agreement with Japanese AGC Si-Tech to fuel clinical study and international growth.
SWEDEN, Nov 10, 2021 — Swedish healthtech startup Sigrid Therapeutics is set to prevent two of the world’s biggest health challenges, type 2 diabetes and obesity with its SiPore15® powder. In a 44% oversubscribed round, this vision has attracted a number of Sweden’s family offices to invest just over $8.4 million in new capital. The company’s total capital injection since its inception is $17.5 million.
“A quarter of the world population is affected with chronic lifestyle diseases which are preventable. With SiPore15® we want to empower people to live healthier,” says Sigrid Therapeutics CEO Sana Alajmovic.
Several family offices, among them Hans and Barbara Bergström, and the Mattsson family, founder of spice giant Santa Maria have chosen to take part in Sigrid’s recent capital raise. They are joined by investment company Crosslight Partners and, among international players, Irish investment network Irrus Investments, led by Mike Ryan, former managing director of Nasdaq-listed Sedana Medical and US-based global VC fund Joyance Partners.”
“A powerful, drug-free response to the overwhelming worldwide diabetes epidemic, Sigrid represents a whole new approach to addressing chronic conditions,” says Joyance Managing Partner Mike Edelhart. “It is emblematic of our funds’ focus on helping people live longer and better lives. We look forward to helping Sigrid expand to the US market.”
The patented breakthrough technology SiPore® behind Sigrid Therapeutics is based on 13 years of research and development at the laboratory of physiology Professor Tore Bengtsson at Stockholm University. By drinking a powder suspended in water together with your meal, two of the world’s biggest health challenges, type 2 diabetes and obesity, can be prevented. ” SiPore15® which is a pleasant tasting, convenient and consumer-friendly way to lower blood sugar, body weight and cholesterol levels,” continues Sana.
The concept recently moved a major step closer to these two multibillion-dollar markets when a production agreement, which secures access to large-scale industrial production, was signed with Japanese AGC Si-Tech. The money raised by Sigrid Therapeutics in the new round will be used for a clinical study that will form the basis for CE marking in the EU. “With large-scale production in place, we will also speed up plans for product launch in the US as a dietary supplement”. The dietary supplement market is now expected to grow from $130 billion today to $230 billion by 2027, according to US market research firm Grand View Research. “We want to bring our deep science approach to this market,” concludes Alajmovic.
About Sigrid Therapeutics
Sigrid Therapeutics (Sigrid) is a clinical-stage healthtech company driven by the vision that no one should fall sick with chronic lifestyle diseases. The Company’s lead product SiPore15® is a patented silica-based powder clinically proven to lower long-term blood sugar and a range of metabolic parameters. Designed to act locally in the gut SiPore15® consists of precisely engineered micron-sized silica particles with tailored porosity capable of entrapping digestive enzymes inside the gut, lowering calorie uptake. Clinical studies with SiPore15® have shown a 1.4 mmol/mol reduction in long term blood sugar, HbA1c, in prediabetics after 3 months of consumption. This magnitude of reduction has been shown to reduce diabetes incidence in prediabetics by 31%.1 To read more about Sigrid, visit www.sigridthx.com
For further information, please contact:
Sana Alajmovic, Co-founder, CEO & Board member, Sigrid Therapeutics
Telephone: +46 723 893 396