Massachusetts medical device maker Fractyl announced this week that it raised $40 million in support of its ablation-based approach to type 2 diabetes, which looks promising in early studies.
The company closed a Series C funding round for its Revita Duodenal Mucosal Resurfacing (DMR) technology, designed to ablate the duodenum (the first part of the intestine) in order to alter glucose metabolism. Fractyl calls its approach the "first procedural therapy to treat type 2 diabetes."
In a study of 30 patients treated with the Revita system, 19 who underwent more extensive DMR in the duodenum saw their HbA1c levels drop from an average of 9.2 prior to surgery to 7.1 after 3 months, with results sustained 6 months after the procedure, according to a Fractyl statement. Other patients who had ablation over a shorter segment of the duodenum didn’t see as much benefit.
"While early, we believe these results validate our approach and indicate the significant impact that the Revita DMR procedure could have for patients afflicted with type 2 diabetes," Fractyl CEO Dr. Harith Rajagopalan said in prepared remarks. "We are preparing to launch our multinational study by the end of the year and working towards our clinical development efforts in the U.S., which we expect to commence during 2016."
The new funding was led by Mithril, and the investment firm’s co-founder and managing general partner Ajay Royan joined Fractyl’s board of directors. Previous Fractyl funders General Catalyst, Bessemer Venture Partners and Domain Associates also participated in the round.