Fractyl Laboratories, a Waltham, Mass.-based developer of a device-based endoscopic procedure to treat Type 2 diabetes, secured $40m in Series C funding.
The round was led by Mithril with participation from General Catalyst, Bessemer Venture Partners and Domain Associates. In conjunction with the funding, Ajay Royan, Mithril’s co-founder and managing general partner, joined the company’s board of directors.
Led by Harith Rajagopalan M.D., PhD, CEO and Co-Founder, and Jay Caplan, Co-Founder and President, Fractyl Laboratories Inc. has just announced positive clinical data for its procedural therapy to directly treat the underlying digestive causes of insulin resistance in patients with uncontrolled type 2 diabetes. The non-invasive Revita™ Duodenal Mucosal Resurfacing™ (DMR) procedure is designed to alter the inner surface of the duodenum and change how the body absorbs and processes sugar. The Revita DMR procedure has the potential to delay the need for insulin therapy and free patients from the burdens associated with managing type 2 diabetes, particularly when oral medications have failed.