More news about Glycemicon

Glycemicon raises CHF3.25 million

09.02.2017 08:54

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Neutriceutical

Glycemicon AG is a Swiss biotechnology company developing so called nutraceuticals for managing prediabetes, diabetes and obesity. Nutraceuticals are products naturally occurring in food sources with extra health benefits. The company will use the funds to conduct its first clinical trials.

Glycemicon's lead product’s active substance is a natural occurring acid (THBA) in both humans and pets, which drives the formation of new fat cells to combat elevated blood glucose levels. The resulting greater number of smaller fat cells does not result in weight gain but significantly improves the effectiveness of nutrient storage, increases insulin sensitivity and enables better control of blood sugar levels.

The company has completed successful pre-clinical studies with THBA to demonstrate efficacy and a clean safety profile, and is running clinical trials for both humans and pets. The first nutraceutical product could be used either on its own or in co-administration with current anti-diabetic therapies. Founded in 2013 and financed mainly by private individuals, the company has raised CHF 7 million to date.

The funds of the Series A round allows the start-up to conduct its first clinical trial in humans with prediabetes, and a second veterinary clinical trial in overweight cats. In addition to the investments Glycemicon also advised the recent appointment of three new members to the Board of Directors: Robert Schier, Danilo Casadei Massari and Erhard Lee.

Robert Schier, PhD, EMBA, Chairman, commented: “We are delighted to welcome our new shareholders with these funds, which allow us to accelerate the clinical development of our unique product for both humans and pets. The field of nutraceuticals is fast-developing, and we are confident that our approach will deliver considerable value to consumers and healthcare systems which are struggling with the burden of diabetes.”

He continued: “The appointments of Mr Casadei Massari and Mr Lee will bring great benefits to this young company in terms of commercial development and investor networks.”

Nadja Mrosek, MD, PhD, Chief Executive Officer, said: “Prediabetes is a growing condition affecting about 20% of the population in Europe, USA and Japan. There is a clear medical need for a new approach before complications develop into full-blown diabetes, cardiovascular disease, and other metabolic diseases. Our unique product is based on THBA, a natural substance that restores the natural ability of body fat in humans and pets to process nutrients, and so better control blood glucose levels. Given that our pre-clinical studies demonstrate significant efficacy and a clean safety profile, we are very excited by this injection of funds to prove our new approach in the clinic.”

(SK)

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