Sigrid Therapeutics raises further SEK10.6 million in oversubscribed rights issue for accelerated SiPore® commercialization

Swedish Health and Wellbeing company on track for 2023 consumer supplement launch and entry into the veterinary market

STOCKHOLM, Jan. 16, 2023 /PRNewswire/ -- Sigrid Therapeutics, a Swedish consumer health and wellbeing company today announced that it has raised an additional SEK10.6 million to accelerate commercialization of its SiPore® health and food supplement portfolio. Both current and new investors participated including recently appointed Chairman, Mattias Ankarberg. In addition to the funds, Sigrid views Ankarberg's vast experience from the consumer industry, most recently at retail giant H&M, as ideal to help diversify its SiPore® technology into the food supplement, veterinary and oral health markets.

SiPore® is a revolutionary patented platform technology consisting of naturally sourced, carefully designed silica particles that limit the breakdown of foods by enzymes in the gut. This enables blood sugar and other metabolic levels to be controlled. The first medical application is in diabetes and pre-diabetes where Sigrid is set to initiate the SHINE clinical trial study this year. However, SiPore® can be easily produced in a wide variety of formats for other health and wellbeing applications.

"In the current climate, the rapid completion and oversubscription of this new fund raise is a sign of confidence in both SiPore´s® huge potential and our commercialization strategy. In addition to our core prediabetes market, we have identified three major areas which can bring cashflow to the company in the near future – dietary supplements, veterinary products for cats and oral health - with these funds we can now implement our plans for each, "says Sana Alajmovic, Sigrid's Co-Founder and CEO.

"Sigrid has continued to move forward at a high pace. A capsule product has been developed, the consumer pre-launch program is completed, and preparations for the world's second largest commercial pre-diabetes study SHINE are coming to a close, adds Mattias Ankarberg, Sigrid's Chairman.

For more information, https://www.sigridthx.com/, or please contact:
Sana Alajmovic, Co-Founder & CEO, Sigrid Therapeutics
Phone +46 72 389 3396
Email: [email protected]

SOURCE Sigrid Therapeutics