Zucara Therapeutics, a Toronto, Canada-based diabetes life sciences company, raised US$20M in Series B funding.
The round was led by Sanofi (As part of the agreement, the company will receive an exclusive right of first negotiation) and The Perceptive Xontogeny Venture Fund.
The company intends to use the funds to conduct the ongoing Phase 2a trial of the effect of ZT-01 On Nocturnal hypoglycemia Events in Type 1 diabetes (“T1D”) mellitus (“ZONE”), and the nonclinical activities to support a once-weekly version of ZT-01.
Led by CEO Zucara Therapeutics is developing ZT-01, an once-daily therapeutic to prevent hypoglycemia in people with T1D and insulin-dependent Type 2 diabetes. it is designed to inhibit somatostatin, a pancreatic hormone that impairs the glucagon response to hypoglycemia in people with these conditions.
ZT-01 is also designed to restore glucagon secretion to prevent hypoglycemia, which could dramatically change diabetes disease management and improve both patient health and quality of life.
FinSMEs
12/11/2024