Sigrid Therapeutics Secures $4 Million in Oversubscribed Funding Round to Tap Into Booming Obesity and Diabetes Market

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Oct 31, 2023, 03:30 ET

Both Nordic and international investors were attracted by Sigrid's natural, non-drug alternative SiPore® technology

STOCKHOLM, Oct. 31, 2023 /PRNewswire/ -- Sigrid Therapeutics successfully secured $4 million in an oversubscribed funding round. The investment, made by both existing and new investors, underlines the strong investor confidence in Sigrid's innovative SiPore® technology.

The funds will be instrumental in accelerating the commercialisation of SiPore® across diverse markets, including medical devices, food supplements, veterinary, and oral health. SiPore21®, the company's flagship product, is currently undergoing SHINE clinical trials as a natural, non-drug solution for prediabetes progression and weight control. Administered orally, SiPore21® utilises a carefully engineered, mesoporous silica mineral to prevent digestive enzymes from breaking down carbohydrates and fats, offering a promising alternative to pharmaceutical methods.

"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.

For more information, www.sigridthx.com, or please contact:

Sana Alajmovic, Co-Founder & CEO, Sigrid Therapeutics
Phone +46 72 389 3396
Email: [email protected]

Mattias Ankarberg, Chairman, Sigrid Therapeutics
Phone +46 70 796 3831
Email: [email protected]

Lars Molinder
Financial adviser
Phone +46 73 417 85 69

About 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.

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SOURCE Sigrid Therapeutics