Technology company Sigrid Therapeutics closes oversubscribed rights issue of SEK 15.5 million to accelerate market approval for groundbreaking blood sugar lowering product

Stockholm, September 5, 2019 - Sigrid Therapeutics AB, an innovative technology company developing a new class of products to improve human health, including type 2 diabetes, today announces that it has closed a rights issue of SEK 15.5 million. The issue, which was 100% oversubscribed, was led by Joyance Partners, a US-based venture capital firm, and Pär Gellerfors, one of the founders of the biotechnology company BioArctic, which is listed on Nasdaq Stockholm. The Company's total capital raised to date amounts to SEK 90 million.

“Sigrid Therapeutics is an incredibly exciting company with an exceptional team,” says Pär Gellerfors , who will join the Company’s board of directors. “The results from the ongoing clinical STAR study with the medical device SiPore15 ^TM will be presented shortly and I am convinced that the Sigrid team has what it takes to successfully drive the development towards a new type of treatment for type 2 diabetes,” continues Pär Gellerfors.

“We focus on the emerging market of health and happiness: we believe that the two exist in symbiosis, i.e. if you are healthy, you are happy and vice versa,” says Paolo Pio, CEO of Joyance Partners, Europe. “Sigrid Therapeutics embodies this principle in an excellent way: the company’s leading product SiPore15 ^TM safely lowers blood sugar, which in turn reduces anxiety and thus creates better conditions for a happier life for those individuals at risk of developing diabetes or who are already affected by the disease. We could not have found a better partner to launch our venture in the Nordics.”

Sigrid Therapeutics CEO, Sana Alajmovic comments: “I am incredibly happy and proud that the capital round generated such great interest among so many experienced investors not only in Sweden but also globally. The capital injection will provide us with resources to expand SiPore15 ^TM ’s clinical development plans as we now prepare for market registration in the EU.”

In addition to the lead investors, other prominent investors also participate, including Axilium Capital, a Swedish investment company focused on innovative companies with a global and scalable business model driven by prominent entrepreneurs, and Karsten Inde, founder of Team Olivia, one of the largest private healthcare companies in the Nordic region. Vinge acted as legal advisor.