Forbion Co-Leads $95m Series B in Sparrow Pharmaceuticals to Advance Targeted Therapy for Type 2 Diabetes
- Clinical-stage company advancing targeted therapeutics for patients with cardiometabolic conditions
- $95m Series B financing led by Forbion and RA Capital Management
- Forbion General Partner, Nanna Lüneborg, PhD, MBA, joins Board of Directors
We are excited to join Sparrow Pharmaceuticals, and advance this novel class of medicine. We have been impressed by the team at Sparrow, who have developed a compelling clinical strategy to address an unmet need in a large patient population. We look forward to working with this exceptional team and investor group to advance clofutriben for the benefit of T2D patients with elevated cortisol.
Nanna Lüneborg, PhD, MBA
General Partner at Forbion and Sparrow Pharmaceuticals Board Member
Nearly half of patients with difficult-to-control diabetes display increased cardiometabolic risk associated with elevated cortisol, yet there are no therapies approved for the vast majority of patients with T2D that address this underlying mechanism. Prospective studies confirm what endocrinologists have long believed: excess cortisol can drive hyperglycemia (increasing gluconeogenesis, decreasing glucose uptake and disposal, and decreasing insulin synthesis and sensitivity), and thereby also impair the effectiveness of standard-of-care treatments. By directly targeting this multifaceted biology – and not just the symptoms of type 2 diabetes – clofutriben may offer new hope for patients underserved by current therapies.
Frank Czerwiec, MD, PhD
Chief Medical Officer of Sparrow Pharmaceuticals
We are grateful to our investors whose support reflects strong conviction in Sparrow’s strategy and the clinical promise of clofutriben. Elevated cortisol is now recognized as a key driver of disease progression and treatment resistance in over a million type 2 diabetes patients in the US alone. Our decision to focus on this patient population reflects a convergence of emerging biological insights, immense clinical opportunity, and payer and clinician receptivity. This significant financial commitment could enable the next big breakthrough in the management of metabolic syndrome.
Robert Jacks
President & Chief Executive Officer of Sparrow Pharmaceuticals
Clofutriben is a once-daily, oral HSD-1 inhibitor that modulates intracellular cortisol production in key metabolic tissues with the potential to complement existing anti-diabetic therapies. In clinical trials, the candidate has been associated with improved glycemic control, including in individuals with elevated cortisol, with a favorable safety and tolerability profile and no evidence of adrenal insufficiency or requirement for dose titration. As an added possible benefit, HSD-1 inhibitors including clofutriben have also shown potential in clinical trials for improvement in weight and body composition, lipids, blood pressure, and markers of bone metabolism, as well as sleep and quality of life, because elevated cortisol contributes to a spectrum of metabolic dysfunction beyond poor glycemic control.
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About Sparrow Pharmaceuticals
Sparrow Pharmaceuticals is a targeted cardiometabolic therapeutics company delivering improved outcomes for patients who struggle to control diabetes and related metabolic conditions with current options. The company’s lead candidate, clofutriben, is a first-in-class, once-daily, oral HSD-1 inhibitor initially in development for the millions of patients with type 2 diabetes and elevated cortisol. HSD-1 inhibition complements existing antidiabetic agents by addressing a cause of disease progression and treatment resistance across a spectrum of metabolic dysfunction. Clofutriben has been associated with improved glycemic control while generally safe and well tolerated in multiple clinical trials without requiring dose titration. To learn more, visit https://sparrowpharma.com/.
About CAPTAIN-T2D
CAPTAIN-T2D is Phase 2b trial evaluating clofutriben, a selective inhibitor of 11β-hydroxysteroid dehydrogenase type-1 (HSD-1), to improve glycemic control and metabolic health in patients who have treatment-resistant type 2 diabetes (T2D) with elevated cortisol (EC). The trial will take place in two parts. Part 1 (Screening) will evaluate patients with T2D and EC risk factors for trial eligibility and the presence of EC. Participants deemed eligible from Part 1 will be randomized to either clofutriben or placebo in the double-blind, dose-ranging, interventional Part 2 (Treatment). The primary endpoint is change in hemoglobin A1c (HbA1c) at 24 weeks. Exploratory endpoints include changes in body weight, blood pressure, cholesterol, and bone metabolism biomarkers.
About Forbion
Forbion is a leading global venture capital firm with deep expertise in Europe and offices in Naarden, the Netherlands, Munich, Germany, and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies covering all stages of (bio)pharmaceutical drug development. In addition to its human health focus, Forbion also invests in planetary health solutions through its BioEconomy strategy. The firm’s team of over 30 investment professionals has a strong track record, with more than 130 investments across 11 funds, resulting in numerous approved therapies and successful exits. Forbion is a signatory to the UN Principles for Responsible Investment and operates a joint venture with BGV for seed and early-stage investments in the Benelux and Germany regions.
