Sigrid Therapeutics takes in SEK 72 million in new capital

Stockholm, Nov 10, 2021 --- Swedish healthtech startup Sigrid Therapeutics is on its way to preventing two of the world's biggest health challenges, type 2 diabetes and obesity, with its SiPore15® powder. In a new share issue, which was oversubscribed by 44 percent, the vision has attracted a number of Swedish family offices to invest SEK 72 million in the company, which has now raised a total of SEK 150 million since launch.

“A quarter of the world's population suffers from chronic lifestyle diseases that can be prevented. With SiPore15® we want to enable people to live healthier lives,” says Sigrid Therapeutics co-founder and CEO Sana Alajmovic.

Barbara and Hans Bergström and the Matsson family, who founded the spice empire Santa Maria, are some of the names that have chosen to invest in Sigrid Therapeutics' latest issue. But interest also comes from other sources, such as the investment company Crosslight Partners and from international players such as the Irish investor network Irrus Investments, led by Mike Ryan, former CEO of Nasdaq-listed Sedana Medical, and the American VC fund Joyance Partners.

"Sigrid is a powerful, drug-free response to the overwhelming global diabetes epidemic, and represents a completely new approach to treating chronic diseases," said Mike Edelhart, Partner at Joyance Partners. "Our investment reflects our fund's focus on helping people live longer and feel better. We look forward to helping Sigrid expand into the U.S. market."

Sigrid Therapeutics' patented technology is based on 13 years of research and development at physiology professor Tore Bengtsson's laboratory at Stockholm University. Through a powder that you drink with a meal, two of the world's biggest health challenges, type 2 diabetes and obesity, can be prevented.

“Today, people prefer to eat or drink their way to better health instead of using drugs. SiPore15® is a consumer-friendly way to lower blood sugar, weight and cholesterol,” says Sana Alajmovic.

Recently, the concept took a major step closer to these two multi-billion dollar markets when a production agreement, securing access to industrial large-scale production, was signed with Japan's AGC Si-Tech. The money raised by Sigrid Therapeutics in the new issue will be used for a clinical study that will form the basis for CE marking in the EU.

“With large-scale production in place, we will also accelerate plans to launch the product in the US as a dietary supplement,” explains Sana Alajmovic. The dietary supplement market has benefited from the strong health focus brought about by the corona pandemic and is expected to grow from today's $130 billion to $230 billion by 2027, according to US market research firm Grand View Research.

“We want to bring our research-based approach and credibility to this market,” concludes Sana Alajmovic.