Fractyl Health, the US-based metabolic disease treatment developer backed by internet company Yahoo Japan and internet technology group Alphabet, has completed a $100m series F round.
The round was co-led by hedge fund Maverick Capital, healthcare-focused fund M28 Capital and investment firm Population Health Partners, while unspecified new and existing backers also took part.
Founded in 2010, Fractyl is focused on developing treatments for patients with metabolic diseases, including Revita DMR, a non-surgical, endoscopic procedure for the treatment of type 2 diabetes. It will use the capital injection to support late-stage clinical studies for its Revita DMR treatment.
Harith Rajagopalan, Fractyl’s co-founder and chief executive, said: “This financing will enable the expansion and acceleration of our clinical development efforts with the goal of reducing insulin dependence for patients with type 2 diabetes on a global scale.”
Fractyl raised $55m in an August 2020 series E round led by Taiwania Capital Management that included GV and YJ Capital, investing on behalf of Alphabet and Yahoo Japan respectively.
The round also featured Bessemer Venture Partners (BVP), General Catalyst, Domain Associates, Mithril Capital Management, Emergent Medical Partners, True Ventures, Catalio Capital Management and financial services firm China Development Financial’s CDIB Venture Capital subsidiary.
An unnamed investor led Fractyl’s $44m series D round, in 2017, which included GV, True Ventures, General Catalyst, BVP, Domain Associates, Mithril Capital Management, Emergent Medical Partners, Deerfield Management and IDO Fund.
The company had closed its 2015 series C round at $57m with backing from Mithril, Deerfield, General Catalyst, BVP and Domain Associates. A regulatory filing shows it had prevously picked up $14.3m from unnamed investors in 2013.