The Swedish high-tech company Nanologica spins off its asset within obesity into a standalone business distributed to the company’s shareholders with Sana Alajmovic serving as CEO.
According to an announcement the spin-off is done to speed up development of a new medical product for the treatment of obesity. The new company will go under the name Sigrid Therapeutics. Co-Founder Sana Alajmovic will serve as the company’s Chief Executive Officer.
“Obesity has become the global epidemic of our time with more than half a billion obese people worldwide. We believe there is a significant unmet medical need for safe and effective treatments of the clinically obese and often very diabetic patients. It is therefore with great excitement and commitment to these patients that I assume the role of CEO for Sigrid Therapeutics”, says Sana Alajmovic.
For the past three years, Nanologica has in collaboration with Professor Tore Bengtsson at Stockholm University researched and developed a treatment for obesity based on oral administration of porous silica. According to Nanologica, the treatment results in a reduction of body fat composition without signs of discomfort or toxicity, with conclusive results verified in repeated experiments. The product is already an FDA-approved food supplement with no upper limit of intake.
As for Nanologica, the company will now focus on its main business areas; chromatography and drug delivery. Operations within chromatography are since the first quarter of 2014 being carried out in AstraZeneca’s former facilities in Södertälje where the production has reached full commercial scale.