Fractyl Health has received $100m to help further its new treatment to minimise or eliminate the need for Type 2 diabetes patients to receive insulin treatment, reports DrugDeliveryBusiness.com. Formerly Fractyl Labs, the company’s Series F financing round included contributions from new investors Maverick Capital, M28 Capital and Population Health Partners, alongside other new and existing investors.
In April 2021 Fractyl garnered FDA breakthrough device designation for a procedure – Revita DMR – designed to resurface the upper intestine lining (duodenal mucosa) in metabolic disease for patients with insulin-treated Type 2 diabetes. Through the procedure, the company aims to minimise or eliminate the need for Type 2 diabetes patients to receive insulin treatment.
Fractyl co-founder & CEO Dr Harith Rajagopalan said, “We’re immensely proud of the leadership role Fractyl has established in creating innovative treatments to address the root cause of metabolic disease, with an initial focus on Type 2 diabetes. By controlling the body’s central metabolic control organ, the duodenum, we believe we’ve discovered a novel way to treat metabolic disease at its source. This financing will enable the expansion and acceleration of our clinical development efforts with the goal of reducing insulin dependence for patients with Type 2 diabetes on a global scale.”
