Sigrid Therapeutics secures SEK 44 million in oversubscribed financing round targeting the growing market for the treatment of obesity and diabetes

Stockholm, October 31, 2023. Sigrid Therapeutics has secured SEK 44 million in a successful and oversubscribed financing round, underscoring the strong confidence of investors in Sigrid's innovative SiPore technology®. Both existing and new investors participated.

The capital injection is important to accelerate the commercialization of SiPore® in various markets. Sigrid will now launch SiPore® for the treatment of obesity and diabetes as a medical device, as a dietary supplement and for the veterinary market. In addition, a product is being developed in oral health to prevent caries and tooth loss.

SiPore21®, the company’s natural, non-pharmaceutical flagship product, is currently undergoing a clinical trial (SHINE) to evaluate prediabetes progression and weight management. SiPore21® is administered orally and consists of a carefully engineered, mesoporous silica mineral that prevents digestive enzymes from breaking down carbohydrates and fats, making SiPore21® a promising alternative to pharmaceuticals.

"This funding will accelerate our efforts to establish partnerships with key players and bring the SiPore® technology to market. We are very pleased with the support of our investors as we move closer to our goal of providing effective and safer solutions in obesity and diabetes," said Sana Alajmovic, Sigrid's co-founder and CEO.

"The launch of SHINE, one of the world's largest prediabetes studies, the classification of SiPore21® as a medical device and the commercial appeal we are noticing in oral health, are successes for Sigrid that clearly show that the company is well on its way to delivering on its exciting potential," adds Mattias Ankarberg, Sigrid's Chairman of the Board.

"We are delighted that Sigrid Therapeutics' recent share issue was oversubscribed by an impressive 50 percent. In today's challenging financial climate, this achievement is a clear sign of the company's quality and potential. The development of obesity and diabetes is worrying and the demand for effective, non-pharmaceutical treatments is evident. The success reflects investor confidence and Sigrid's commitment to groundbreaking solutions beyond pharmaceuticals," adds Lars Molinder, Sigrid Therapeutics' financial advisor.