Concenter BioPharma Successfully Uses Crowdfunding to Finance Its Pill To End Diabetes!

Concenter BioPharma has raised $407 K (as of August 24 1.3 Million NIS) in just ten days using the PipelBiZ Crowdfunding Platform! Concenter Biopharma launched last week (August 14) a campaign on the PipelBiZ Crowdfunding Platform with a target to raise up to 4 million NIS (the maximum allowed) by September 24 – for further information https://www.pipelbiz.com/Campaign/52787. (The site is currently only in Hebrew).

Concenter BioPharma hopes to raise $ 1.2 M total for clinical trials phase 2a to be performed at the Sheba Medical Center in Israel on Concenter BioPharma’s drug, Zygosid-50, concluding their Tox studies on animals according to FDA regulations and finalizing the Oral Dose formulation. These trials are targeted to take 14 months. Zygosid-50 is a monotherapy drug for treating Type 2 Diabetic patients and for preventing Type 2 Diabetes in pre-diabetic patients. Concurrently to the regulatory process, Concenter Biopharma is in dialog with several large pharma companies that have expressed interest in exploring options for cooperation/licensing.

The Global Type 2 Diabetes Epidemic

One out of three people in the world either have diabetes or are pre-diabetic. 95% of them have diabetes type 2. Type 2 Diabetes is a Global Epidemic costing $850 Billion/Year. Over 450 Million people worldwide have diabetes. 12% of Global health expenditure is spent on diabetes. In the USA – >30 Million have diabetes and additional 89 Million have Pre-Diabetes, over 4,100 new patients are diagnosed DAILY! $322 Billion per year is spent on diabetes, 20% of healthcare costs go to caring for people with diabetes! In China (WHO data), over 10% of all adults – about 110 million people – currently live with diabetes; rates of Type 2 diabetes in China have exploded in the last couple of decades; almost half of all adults in China – close to 500 million people – have prediabetes.

Zygosid-50 – Concenter Biopharma ‘s Anti Diabetes Pill

Zygosid-50 has been extensively demonstrated as effective in both prevention and treatment of T2 diabetes – by Restoring Insulin Resistance to Normal Levels; as well as inhibiting the appearance and the degree of hyperglycemia; lowering LDL; lowering body weight; reduction of cataract formation and diabetes-induced retinopathy! Zygosid-50 has 3 synergistic and parallel Mechanisms of Action: a potent anti-inflammatory agent, a strong iron chelator, and an antibiotic agent. Zygosid-50 administration (over a 2 month period) did NOT show any adverse event and even showed a marked cardio protective effect!

Zygosid-50 has proven a safe and efficacious anti-diabetic drug, exerting potent multifactorial effects, including:

  • Restoring Insulin Resistance to normal levels
  • Restoring Blood Glucose to normal levels
  • Normalizing the lipid profile
  • Suppressing the expression of pro-inflammatory cytokines (TNF-α, IL-6, IL-17)
  • Mitigating oxidative stress
  • Replenishing zinc deficiency

FDA Is Fast Tracking Zygosid-50

The FDA has accepted proof of concept (POC) for Zygosid-50, Concenter BioPharma’s new drug as an anti-Diabetes drug! FDA accepts the 505(b)(2) regulatory pathway for Zygosid-50, meaning it will have a relatively less risky process (relying on existing safety and efficacy information), shorter (requiring less studies) and less costly (smaller scope and number of studies). The FDA also accepts the assumption that Type2 Diabetes is an indication eligible for “Fast Track Designation”.

 Crowdfunding 

During the Coronavirus period, Concenter Biopharma choose to base its funding raising campaign on PipelBiz, an equity crowdfunding platform aimed at matching small businesses with investors, avoiding the necessity of bringing on multiple partners. PipelBiz enables companies to raise capital from an unlimited large number of investors without the need of a prospectus. but in strict accordance with the Israeli Securities Law and the Securities Regulations (Offering of Securities through an Offering Coordinator), and the Directives of the Israel Securities Authority.

For any company planning a campaign on PipelBiz’s website, PipelBiz examines the candidate company as well as its controlling shareholders and its officers. The scope of this Process is implemented in accordance to the company’s activities and its complexity. During the Process, parameters are examined as well as any other detail that Pipelbiz believes to be necessary, under the circumstances of the matter.

Upon the completion of the Examination Process, a decision is made whether to accept or reject the Candidate Company. Businesses which raise capital through PipelBiz enjoy the relevance and common interest of the vast number of people that invested in them and become shareholders. A fundraising campaign requires a minimum of 600K NIS to be raised and and a maximum of 4 million NIS (per company, per year) and the fundraising period is at least 45 days but can be extended as described in a company’s Offering Memorandum.

To date, several other life science companies have raised funding on Pipelbiz  such as LBT (1,113,281 NIS), Neurosense (3,999,990 NIS), Red C Biotech (3,214841 NIS), Innocan (2,958,683 NIS), Cannible (2,417,710 NIS), BreatheVision (2,912,533 NIS).

About Concenter BioPharma Ltd.

Concenter BioPharma is a subsidiary of Silkim Pharma and was spun out in May 2019 to become an independent company focused on developing drugs for treating and preventing type 2 diabetes.

Concenter BioPharma is based on co-founder, Professor Mottie Chevion’s work at the Hebrew University, Hadassah Medical Center, Jerusalem.  He and co-inventors developed a family of non-steroidal chemical complexes, made of components approved for clinical use. Concenter BioPharma licensed the right to further develop and commercialize the technology from its inventors, headed by Prof. Mottie Chevion. The IP was previously owned by Yissum and Hadasit (the TTO companies of the Hebrew University and Hadassah, respectively). Dror Chevion is the CEO, Prof. Amir Elami, M.D., the Chief Medical Officer and Dr. Susan Alpert, M.D., Ph.D is responsible for regulatory affairs. The Scientific Advisory Board includes three of the global Key Opinion Leaders in the field of diabetes – Prof. Itamar Raz (MD) – Israel, Prof. Ralf DeFronzo (MD) – USA, Prof. Peter Nawroth (MD) – Germany.

Concenter Biopharma is currently raising up to $1.2 Million and has already successfully secured over $400,000 of this amount: https://www.pipelbiz.com/Campaign/52787

More information – Dror Chevion, CEO Concenter BioPharma Ltd. info@concenterbiopharma.com

About JLM- BioCity

News on the many life science and healthcare companies in the Jerusalem area can be seen at https://jlm-biocity.org/jlm-biocity-innovations/

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We invite you, researcher, professional, investor and executive to become part of our vision, in building Jerusalem’s Biomed eco-system.

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