Fractyl Laboratories, Inc., a Waltham, MA-based company that addresses the underlying biology of metabolic diseases including type 2 diabetes, raised an additional $17m in Series C funding.
The round now totals at $57M. New investor Deerfield Management Company, joined existing investors Mithril, General Catalyst, Bessemer Venture Partners and Domain Associates.
The company will use these funds to accelerate clinical development as it expedites the path to market.
Led by Harith Rajagopalan, MD, PhD, Co-Founder and CEO, Fractyl has developed duodenal mucosal resurfacing (the Revita DMR system), a same-day procedure with the potential to improve metabolic health, and is currently engaged in clinical trials designed to demonstrate that the procedure can improve glucose control and potentially reduce the need for additional medications in type 2 diabetes.