Fractyl Laboratories secured $55 million for a Series E financing to continue funding a pivotal clinical trial of its potential non-drug, non-surgical treatment for Type 2 diabetes, according to the company.
The capital will go toward the Lexington, Mass-based start up’s Revita T2Di pivotal clinical trial of Revita DMR (duodenal mucosal resurfacing). Revita is measuring the effect of Fractyl’s Revita DMR treatment on glycemic control and insulin requirements.
The Revita DMR uses heat to ablate the surface lining of the upper intestine (duodenal mucosa) to reset key metabolic pathways, including insulin resistance, and reverse metabolic disease.
New investor Taiwania Capital Management Corporation led the round which included returning investors Bessemer Venture Partners, General Catalyst, Domain Associates, Mithril Capital Management, Emergent Medical Partners, True Ventures, and GV. The round drew first-time commitments from Catalio Capital Management, …