Pharma, Startups

Theracos – not Theranos – raises $25M for diabetes drug

Theracos’ type 2 diabetes drug works in a similar manner as Bristol-Myers Squibb’s popular drug, Farxiga.

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Massachusetts-based Theracos – not to be confused with Bay Area diagnostics company Theranos – just raised $25 million for its type 2 diabetes drug.

The company is developing a series of SGLT2 inhibitors as a potential drug to treat type 2 diabetes. It works by inhibiting the kidney’s ability to recover glucose that’s been excreted – thereby increasing the amount that is shed in urine, and decreasing the amount retained in the blood.

The company is currently in the midst of recruiting participants with type 2 diabetes for a Phase 2b dosing trial. Its experimental drug, called bexagliflozin, has been tested in studies in the U.S., Europe, Russia and Japan.

It works in a similar manner to Farxiga, a popular AstraZeneca type 2 diabetes drug approved in 2014 that also works as an SGLT2 inhibitor. Other such drugs are Invokana and Jardiance.

[Image courtesy of Flickr user Bill David Brooks]