Sigrid Therapeutics Secures $1.6M Funding to Advance SiPore15, a Novel Oral Medical Device for Prediabetes and Type 2 Diabetes

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical device company Sigrid Therapeutics (“Sigrid”) announced the completion of a $1.6 million equity financing round. The round was led by U.S. venture capital firm Joyance Partners.

Sigrid, headquartered in Stockholm, Sweden, is a medical device company. The company primarily develops novel medical devices for chronic diseases such as diabetes, aiming to improve clinical outcomes for patients and enhance the standard of care.

Pär Gellerfors, founder of the biotechnology company BioArctic and one of Sigrid’s major investors, stated, “Sigrid has an excellent team and is a medical device company with bright prospects.”

Sigrid’s lead candidate, SiPore15, is an oral medical device that effectively lowers blood glucose levels in patients with prediabetes and demonstrates significant efficacy in type 2 diabetes. Notably, SiPore15 has become the first non-systemic therapy for prediabetes, with the potential to prevent type 2 diabetes.

SiPore15 consists of micron-sized silica particles with fixed porosity, enabling localized action within the human intestine. The silica particles primarily function as molecular sieves, mechanically separating partially undigested food from digestive enzymes in the gastrointestinal tract, thereby gently improving metabolic function. Furthermore, the silica particles are not absorbed and can be safely excreted from the body.

Sigrid will announce the results of the STAR clinical trial for SiPore15 in the fourth quarter of 2019. The STAR clinical trial is a single-arm, open-label, multicenter study designed to evaluate the safety and efficacy of SiPore1 in subjects with prediabetes or type 2 diabetes. The results of this study will guide the further clinical development of SiPore15.

Pär Gellerfors said, “With the announcement of the STAR clinical trial results, I believe Sigrid will continue to advance the development of its therapeutic product for type 2 diabetes.”

Mr. Paul Skin, Director and Managing Partner at Joyance Partners, stated, “Sigrid has remained committed to advancing the medical device and life sciences industries and contributing to human health. SiPore15 demonstrates a strong safety profile and effectively lowers blood glucose levels in patients with diabetes. We will continue to provide financial support to Sigrid to drive its product development and market expansion.”

Sigrid CEO Sana Alajmovic stated, “I am delighted to have gained the recognition of a broad base of investors. The new funding will help Sigrid’s R&D team advance the clinical development program for SiPore15 and support its regulatory registration in the EU market.”

Joyance Partners, established in 2017 and headquartered in San Francisco, is a venture capital firm. The company focuses on emerging technology and life sciences, and has recently expanded its investment activities into the European market.

(Compiled by Xu Xiaoxue)