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$3.9M to progress diabetes drug

Test tubes used to check Insulin in the Research of Diabetes for the treatment of diabetics.

A Canadian life sciences company has secured US$3.9 million to take forward trials of a daily drug designed to combat low blood glucose  levels (hypoglycemia).

The money from The Leona M. and Harry B. Helmsley Charitable Trust will enable Zucara Therapeutics to take forward its ZT-01 drug, which aims to prevent hypoglycemia in people with Type 1 diabetes (T1D), for clinical trials.

“This significant funding from the Helmsley Charitable Trust fills an important gap in financing that we need to move our drug forward to be ready for clinical trials,” said Michael Midmer, Chief Executive Officer for Zucara Therapeutics.

Hypoglycemia is a potentially life-threatening condition for people with T1D and demands constant monitoring of blood glucose levels – this drug could be a potential game changer in dealing with it.  

“We are excited to partner with Zucara and help them bring a first-in-class drug to the T1D community,” added Ben Williams, Ph.D., Program Officer in Helmsley’s Type 1 Diabetes Program. “Hypoglycemia is a major and often overlooked challenge for those living with T1D, and Zucara’s drug takes a direct shot at this unmet need.”

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