Sigrid Therapeutics raises additional SEK 10.6 million in oversubscribed rights issue to accelerate commercialization of SiPore®

Stockholm, Monday, January 16, 2023. Sigrid Therapeutics, a Swedish consumer-focused technology company in consumer health, announced today that an additional SEK 10.6 million has been added to the company to accelerate the commercialization of its portfolio of dietary supplements based on SiPore®. Both existing and new investors participated, including Mattias Ankarberg, who was recently appointed Chairman. In addition to the invested funds, Sigrid believes that Ankarberg's extensive experience in the consumer industry, most recently at retail giant H&M, is ideal for supporting the diversification of the SiPore® technology for the dietary supplement, veterinary and oral health markets.

SiPore® is a revolutionary and patented platform technology consisting of carefully designed silica particles based on naturally available raw materials. SiPore® limits the ability of digestive enzymes to break down food in the intestine and through this mechanism, blood sugar and other metabolite levels can be controlled. The first medical application is in diabetes and pre-diabetes where Sigrid will initiate the SHINE clinical trial this year. In addition to the pre-diabetes indication, SiPore® can be easily produced in various forms for other applications in the health and wellness area.

"In the current financial climate, the rapid completion and oversubscription of the issue is a tangible sign of high confidence in SiPore®'s great potential and in our commercialization strategy. Alongside our core area, the development of medical devices for prediabetes, we have identified three other promising areas that can generate cash flow for the company in the near future, namely dietary supplements, veterinary products for cats and oral health. With the financing, we can now realize our plans for each of these areas, " says Sana Alajmovic, Sigrid's co-founder and CEO.

“Sigrid has continued to develop very rapidly. A capsule product has been developed, the pre-launch program with consumers has been completed and preparations for the world's second largest commercial prediabetes study SHINE are almost complete,” adds Mattias Ankarberg, Sigrid's chairman.