Fractyl, armed with a GLP1-based gene therapy, files IPO

Dec. 15, 2023

Fractyl Health has filed for a $100 million IPO with the SEC, as it advances its lead candidate, a GLP-1-based pancreatic gene therapy for type 2 diabetes and obesity.

The Massachusetts-based company is focused on pioneering new approaches to the treatment of metabolic diseases, including type 2 diabetes and obesity. Its Revita gene therapy platform is designed to remodel the lining of the small intestine through hydrothermal ablation to edit abnormal intestinal nutrient sensing and signaling mechanisms that are a potential root cause of metabolic disease.

In the midst of a surging obesity market dominated by Novo Nordisk's semaglutide, Fractyl has focused on combating one of the downsides of semaglutide — the possibility that people regain weight after stopping treatment.

In October, the drugmaker shared data from preclinical studies that put Revita up against semaglutide. According to Fractyl, a single administration of its GLP-1 PGTx resulted in 24.8% lower total body weight at day 15 compared to 18.4% for chronic semaglutide in the diet-induced obesity rodent models.

Fractyl just announced new pooled analysis from subjects enrolled in Revita clinical studies across the EU and U.S., demonstrating initial weight loss and sustained weight maintenance without weight regain through at least one year post-Revita procedure.