Glyscend Therapeutics Secures $20.5M Series A Financing to Advance Novel Oral Polymer Therapies for Type 2 Diabetes and Metabolic Diseases
Brandon Capital Partners
Life Sciences Venture Capital Firm
Sante Ventures
A Venture Capital Firm Focused on the Life Sciences Sector
Glyscend Therapeutics
Biopharmaceutical Manufacturer
On June 12, 2020, VCBeat (WeChat Official Account: vcbeat) learned that Glyscend announced on June 11 local time the completion of a $20.5 million Series A financing round. The round was led by Santé Ventures, with participation from Brandon Capital Partners.
It is reported that prior to this round of financing, Glyscend had raised $500,000 in equity since its establishment in 2014, having previously secured government grants and completed its Series A financing in 2016 and 2020, respectively.
(From Crunchbase company financing information)
This round of financing will be used for the research and development of novel oral polymer-based therapies for patients with type 2 diabetes (T2D) and other metabolic diseases.
Ashish Nimgaonkar, President and CEO of Glyscend, stated, “The technology we are developing draws inspiration from the remarkable efficacy of gastric bypass surgery in correcting metabolic abnormalities associated with type 2 diabetes (T2D). Our goal is to develop an oral medication that acts locally within the gastrointestinal tract, harnessing the benefits of gastric bypass surgery while significantly reducing potential risks and complications.” He further noted, “To replicate the benefits of such invasive procedures through a pill-based approach, Glyscend’s R&D team has leveraged the expertise of medicinal polymer chemist Thomas Jozefiak. During his tenure at GelTex Pharmaceuticals (later renamed Genzyme), Dr. Jozefiak pioneered the development of non-absorbed compounds, one of which eventually became a blockbuster drug marketed by Sanofi for the treatment of chronic kidney disease.”
Bob Soh, Investment Manager at Brandon Capital Partners, said, “Over the years, I have had the privilege of witnessing the Glyscend team develop and validate its compounds. Australian clinical researchers recognized this approach early on and are highly anticipatory of the first-in-human trials scheduled to commence next year.”
Glyscend, Inc. is a venture capital-backed biopharmaceutical company dedicated to developing novel oral drugs that target sites within the gastrointestinal tract to treat various metabolic disorders, including type 2 diabetes (T2D). Glyscend’s polymer technology platform draws on research from Johns Hopkins University, which identified mechanisms in certain types of bariatric surgery that can significantly improve glucose and metabolic regulation. The company found that specially designed polymers, when administered orally to mice, can mimic these post-surgical mechanisms. Glyscend’s technology originated from research initiated by the Center for Bioengineering Innovation and Design (CBID) at Johns Hopkins University and is licensed from the university. The project has received funding and recognition from the Maryland Innovation Initiative, the National Science Foundation, Johnson & Johnson, and the Janssen Research & Development 2016 World Without Disease QuickFire Challenge.
Brandon Capital Partners is a fund management company dedicated to delivering high-quality returns to Australia’s leading superannuation funds by investing in innovative life sciences enterprises. The company collaborates with entrepreneurs to establish commercial partnerships, creating value for entrepreneurs, their teams, and the company’s investors. Founded in 2006, the firm is headquartered in Melbourne, Australia.
Santé Ventures is a life sciences venture capital firm that specializes in investing in early-stage companies developing innovative new medical technologies or healthcare models. Founded in 2006, the firm manages two funds with total assets of $281 million.