• Second Closing Raises CHF 1.8 Million
• Appointment of Antonino Santoro to Board
Swiss biotech developing novel nutraceuticals for the maintenance of normal blood sugar levels and better weight management
Brugg, Switzerland, April 3, 2018 – Glycemicon AG, a Swiss biotechnology company developing novel nutraceuticals for the maintenance of normal blood sugar levels and better weight management, today announced the second and final closing of its Series A round, raising CHF 1.8 million from existing private investors. Together with the first closing of CHF 3.25 million announced last year, this completes the Series A total of CHF 5.05 million. It also advised the appointment of Antonino Santoro, PhD, to the Board of Directors.
The company is using the funds to conduct its first clinical trial in humans with prediabetes and to conduct a further clinical study in cats with elevated blood sugar. Its first novel food product is based on the active compound THBA, a natural substance that modifies body fat tissue to help maintain normal blood glucose levels. THBA is naturally occurring in humans and pets and is also found in some natural food products.
Robert Schier, PhD, EMBA, Chairman, commented: “We are delighted to receive this continued support from our shareholders. Prediabetes is a growing condition affecting about 20% of the population in Europe, USA and Japan. Supplementing the diet with food products that can help maintain a normal blood glucose level is increasingly viewed as an important part of health management.”
He continued: “Antonino Santoro brings the company a special combination of regulatory and business development experience in both the food and pharmaceutical sectors. We look forward to benefiting from his advice, his network and global perspective.”
Antonino Santoro, PhD, Board Member, said: “I am pleased to join the Board of Glycemicon, a company that is well-set to deliver a potential breakthrough in the fast-developing field of nutraceuticals. The novel approach with THBA could add value to consumers and healthcare systems which are struggling with the burden of people with elevated blood sugar levels. I am confident that my experience and professional network can contribute to the development of an interesting product.”
About Antonino Santoro, PhD
Antonino has more than 40 years’ experience in the food and pharmaceutical business. He started his career in the Pharmacological Institute “Mario Negri” in Milan and was later responsible for Regulatory Affairs and Business Development in Rottapharm/Madaus, playing a key role in the company´s transformation into a truly multinational organization. Presently, he is also serving on the Board of Directors of Sifi S.p.A, an Italian ophthalmic pharma company and of several other small companies active in the food supplements area. Antonino is the Vice-President of Federsalus, the Italian Association of Food Supplements Manufacturers and Distributors. Since 2013, he is a Member of the Board of the European Federation of Health Product Manufacturer Associations (EHPM).
Prediabetes refers to individuals whose blood glucose levels are high but are not in the diabetes range. Normally, peoples’ bodies make the hormone, insulin, to control blood sugar. But when they have prediabetes, this system does not work as well as it should, and they might not be able to produce enough insulin, or their bodies might not respond properly to the insulin.
Prediabetes is associated with an increased risk for diabetes and cardiovascular disease and makes people more susceptible to getting heart disease or having a stroke, so it is crucial to managing this condition.
According to 2016 statistics from the Centers for Disease Control and Prevention (CDC), 86 million Americans aged 20 and older are living with prediabetes, and more than 29 million Americans are living with diabetes. Prediabetics in particular have a large unmet need for efficacious and safe products.
About Glycemicon www.glycemicon.com
Glycemicon AG is a Swiss biotechnology company developing novel nutraceuticals for the maintenance of normal blood sugar levels and better weight management, using new approaches that were initially identified at the University of Science & Technology ETH Zurich. The lead product’s active substance THBA is a naturally occurring substance in both humans and pets, which improves the body fat functionality to combat elevated blood glucose levels by increasing insulin sensitivity. The company has successfully started clinical development of its lead product for both humans and pets.
The lead product’s active substance THBA is a naturally occurring substance in both humans and pets, which improves the body fat functionality to combat elevated blood glucose levels by increasing insulin sensitivity. The company has successfully started clinical development of its lead product for both humans and pets.
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