Announces Completion of $57 Million Series C Investment
Summary
To this end, we have already treated 28 patients in our first international multicenter clinical trial and remain on track to begin randomized studies next year,” said Harith Rajagopalan, MD, PhD, Co-Founder and CEO of Fractyl.In September Fractyl announced results from a 39-patient, single-site, proof-of-concept study demonstrating that a same-day procedure using the Revita™ Duodenal Mucosal Resurfacing™ (DMR) System produces significant, beneficial changes in blood sugar in patients with poorly controlled type 2 diabetes. We are excited to support Fractyl in developing this innovative therapy,” said Avi Kometz, MD, partner at Deerfield.On November 19th at The World Congress on Insulin Resistance, Diabetes & Cardiovascular Disease, Alan Cherrington, PhD, will be presenting an update on the Revita™ Duodenal Mucosal Resurfacing™ (DMR) results. Harith Rajagopalan, MD, PhD, Co-Founder and CEO of Fractyl will be presenting at the 27th Annual Piper Jaffray Healthcare Conference December 1-2, 2015 in New York City.“As an early investor in Fractyl, we are delighted by their continuous progress toward a valuable, patient-friendly intervention for type 2 diabetes,” said Ajay Royan, founder and managing general partner of Mithril Capital Management.Fractyl Laboratories, Inc., a private company based in Waltham, MA, was founded with the mission to address the underlying biology of metabolic diseases including type 2 diabetes. Fractyl has developed duodenal mucosal resurfacing (the Revita DMR system), a same-day procedure with the potential to significantly improve metabolic health. Fractyl is currently engaged in clinical trials designed to demonstrate that the Revita DMR procedure can meaningfully improve glucose control and potentially reduce the need for additional medications in type 2 diabetes.