Based on research at University of Adelaide, Royal Adelaide Hospital and Johns Hopkins's Hospital, Glyscend is working on a pill to treat type 2 diabetes.
Glyscend, a US-based type 2 diabetes medication developer based on research from University of Adelaide, Royal Adelaide Hospital and Johns Hopkins University Hospital, secured $20.5m of series A funding today.
Medical Research Commercialisation Fund (MRCF), the Australian government-backed vehicle aligned to more than 50 Australian research institutions, co-led the round alongside life sciences-focused venture firm Santé Ventures.
The round was filled out by Breakout Labs, a fund managed by private office Thiel Foundation. MRCF is managed by venture capital firm Brandon Capital.
Founded in 2014, Glyscend is developing a non-absorbable pill that treats type 2 diabetes by improving the body’s ability to modulate glucose, inducing changes to its hormonal signalling pathways.
The polymer-based pill has the effect of diverting intestinal matter beyond the upper gut, similar to that achieved with gastric bypass surgery.
Shielding the upper gut is thought to play a vital role in metabolic regulation, influencing hormone signals to both the liver and brain.
Glyscend emerged from a research collaboration involving Chris Rayner, professor at the Centre of Research Excellence in Translating Nutritional Science to Good Health, based at University of Adelaide and Royal Adelaide Hospital.
Rayner was assisted by his colleague Michael Horowitz along with a research team from Johns Hopkins University Hospital in the US.
An estimated 500 million people globally suffer with the disease, according to the International Diabetes Federation.
Glyscend will utilise the funding to continue developing its pill with the aim of starting clinical trials in 2021. Breakout Labs injected an undisclosed amount of seed funding into Glyscend in 2019.
