Sigrid Therapeutics secures €3.7M to market natural non-drug weight control
Sigrid Therapeutics, the Stockholm-based startup developing innovative solutions for obesity and diabetes management, has successfully raised €3.7 million in an oversubscribed funding round. The investment will support the commercialisation of SiPore technology across diverse markets, including medical devices, food supplements, veterinary, and oral health.
SiPore is a natural, non-drug technology addressing obesity and diabetes markets. The investment by existing and new investors validates the strong market potential for the technology. The company plans to launch SiPore in the US and EU next year.
“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 and safer solutions for obesity and diabetes management,” said Sigrid Therapeutics co-founder and CEO Sana Alajmovic.
Lars Molinder, the financial adviser to Sigrid Therapeutics, said the oversubscription of Sigrid’s recent share offering by 50 percent emphasises the company’s quality and potential, especially in the current challenging financial climate.
“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,” Molinder added.
SiPore21 approach to preventive healthcare
Sigrid Therapeutics was founded by Tore Bengtsson and Alajmovic in 2014 with the aim to transform the prevention and treatment of modern-day chronic lifestyle diseases. Driven by impactful innovation, the company is committed to improving the lives of people around the world.
SiPore21, the flagship product, is being tested in the SHINE clinical trial as a natural, drug-free way to prevent prediabetes progression and help with weight control. The company is developing the product as an over-the-counter alternative to prescription weight loss drugs like Ozempic.
According to Alajmovic, SiPore21 is different from Ozempic because it is not a weight-loss drug. She explained that the product would have gradual positive effects on weight over time but would not cause a quick 15 percent weight loss like Ozempic.
The product is based on a modification of the mineral silicon, which has been shown to have blood sugar-lowering properties. SiPore21 has undergone consumer trials showing similar results in lowering blood sugar for diabetic patients.
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