DURHAM, N.C., February 1, 2022: Vogenx, Inc., a clinical-stage developer of novel therapeutics for the treatment of metabolic disease, announced the closing of its Series A financing. Proceeds from the Series A preferred stock issuance will be used to advance the Company’s therapeutic product candidate, mizagliflozin, into phase 2 clinical trials.
Concurrent with the financing, Vogenx entered into an exclusive license agreement (the “Agreement”) with Kissei Pharmaceuticals, Ltd. Under terms of the Agreement, Vogenx is granted the exclusive right to develop and commercialize mizagliflozin in the global territory outside of Japan, Korea, and Taiwan. Kissei received an undisclosed upfront cash payment and may receive additional payments upon successful completion of certain development and regulatory milestones, as well as royalties on net sales.
Mizagliflozin is a novel small molecule therapeutic candidate being developed for the treatment of post bariatric hypoglycemia (“PBH”). Mizagliflozin has been administered in over 500 subjects in 8 clinical trials and has shown to reduce and delay postprandial glucose absorption and insulin secretion.
PBH is known to be a side effect associated with bariatric surgeries that are commonly performed as a treatment for obesity. Bariatric surgery has proven to be a highly effective treatment for obesity, leading to significant improvements in BMI and obesity-related co-morbidities.
There are currently no therapeutics approved by the FDA for the treatment of PBH. PBH is a form of reactive hypoglycemia that usually presents 6 months to 4 years post-surgery. Hypoglycemic events in patients diagnosed with PBH are caused by rapid increases in postprandial circulating glucose and a corresponding uncontrolled spike in insulin, typically 1-2 hours after a meal. Symptoms can include those associated with neuroglycopenia such as shakiness, hunger, dizziness, confusion, sweating and loss of consciousness that can dangerously impair normal day-to-day activities and can be life-threatening.
In Connection with the financing, Bob Ruffolo, Tim Boris, Richard Gorman, and Peter Pieraccini joined the Vogenx board of directors.
About Vogenx, Inc.
Vogenx, Inc. is a clinical-stage life science company based in Durham, North Carolina. The Company is focused on the development of novel therapeutics for the treatment of diseases with high unmet medical need. For more information about Vogenx, please visit https://vogenx.com
About Kissei Pharmaceuticals, Ltd.
Under the management philosophy “contribute to society through high-quality, innovative pharmaceutical products” and “serve society through our employees”, Kissei Pharmaceutical Co., Ltd. provides unique innovative pharmaceutical products as a drug discovery and R&D-oriented company for patients in the world with a special focus on urology, nephrology, dialysis, diabetes, gastroenterology and rare diseases. For more details about Kissei Pharmaceutical Co., Ltd., please visit https://www.kissei.co.jp/
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