Zucara Therapeutics Inc., a Toronto, Canada-based diabetes life sciences company, raised $US5m in the second and final closing of its US$25m Series B financing.
The T1D Fund: A Breakthrough T1D Venture, and other new investors invested a combined US$5m to complete the round. As previously announced, strategic investor, Sanofi, and existing investor, The Perceptive Xontogeny Venture Fund, invested a combined US$20m as part of the first closing. In connection to the Financing, T1D Fund Managing Director, Sylvia Tobé, will join Zucara as a Board Observer.
Led by Michael Midmer, CEO, Zucara Therapeutics is developing ZT-01, a first-in-class, once-daily therapeutic to prevent hypoglycemia in people with T1D and insulin-dependent Type 2 diabetes. ZT-01 is designed to inhibit somatostatin, a pancreatic hormone that impairs the glucagon response to hypoglycemia in people with these conditions. ZT-01 is designed to restore glucagon secretion to prevent hypoglycemia, .
Proceeds are expected to fund the remainder of Zucara’s ongoing Phase 2a trial of the effect of ZT-01 On Nocturnal hypoglycemia Events in Type 1 diabetes (“T1D”) mellitus (“ZONE”), and the nonclinical development of a once-weekly version of ZT-01.
ZT-01 is designed to prevent potentially dangerous low blood glucose by restoring the body’s ability to counterregulate hypoglycemia. In people without diabetes, α-cells secrete glucagon that signals the body to release its own glucose stores to prevent or reverse hypoglycemia. However, in people with insulin-dependent diabetes – including those with T1D and insulin-dependent Type 2 diabetes – evidence suggests that elevated secretion of pancreatic somatostatin suppresses glucagon release from α-cells. Zucara has demonstrated that, in people with T1D, the glucagon response can be increased with ZT-01, a first-in-class SST receptor 2 antagonist.
FinSMEs
01/05/2025