Stockholm, Sweden-based Sigrid Therapeutics raised USD 4 million in an oversubscribed funding round. The round took place on October 31, 2023. The investment included both existing as well as new investors. The investment underlines the strong investor confidence in Sigrid’s innovative SiPore® technology.
Purpose of financing for Sigrid Therapeutics
With the latest financing, Sigrid Therapeutics has plans to accelerate the commercialisation of SiPore® across diverse markets, such as 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.
What the company’s official has to add
Sana Alajmovic, Sigrid’s Co-Founder and CEO, said, “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.”
In addition, Mattias Ankarberg, Sigrid’s Chairman, said, “Sigrid’s continued success is evident from the launch of one of the world’s largest prediabetes trials, 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.”
In addition, Lars Molinder, financial adviser to Sigrid Therapeutics, said, “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.”
About Sigrid Therapeutics
In 2014, Sana Alajmovic and Tore Bengtsson launched the company. Sigrid Therapeutics is a Sweden-based impact unicorn focusing on revolutionising obesity and diabetes management. It seeks to achieve this via its innovative SiPore® technology. The company’s flagship product, SiPore21®, is currently in SHINE clinical trials. It offers a natural, non-drug solution for prediabetes progression and weight control. With a focus on impactful innovation, Sigrid Therapeutics aims to enhance the well-being of individuals worldwide. SiPore21® is administered orally. Furthermore, it utilises a carefully engineered, mesoporous silica mineral to prevent digestive enzymes from breaking down carbohydrates and fats, offering a promising alternative to pharmaceutical methods. Sigrid is a purpose-driven, consumer focused healthtech company envisioning a world where no one falls sick with chronic lifestyle diseases.
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