Biotech
Tuesday, October 24th, 2023 2:02 pm EDT
Key Points
- Surging Demand for Diabetes and Obesity Drugs: Sales of diabetes and obesity drugs like Ozempic and Wegovy have significantly increased, reflecting the growing demand for weight loss solutions. Sales of these drugs rose by 58% and 363%, respectively, in the first half of 2023.
- Signos’ Innovative Approach: Signos, a five-year-old startup, is addressing weight loss without relying on pills. The company uses continuous glucose monitors (CGMs) to provide real-time diet and exercise recommendations based on an individual’s glucose readings. This approach offers personalized insights into how different foods affect glucose levels and when to exercise for optimal weight loss.
- Funding and Expansion: Signos recently closed a $20 million funding round led by Cheyenne Ventures and GV (formerly Google Ventures), with support from Dexcom Ventures. The startup plans to use the fresh capital to continue its research into metabolic health and expand its team. Signos aims to help people make better choices for their bodies and address the obesity epidemic with technology-driven behavioral change.
Signos, a startup founded in 2018, is taking a novel approach to addressing the obesity epidemic without relying on pills. The company uses off-the-shelf continuous glucose monitors (CGMs) that track glucose levels and are primarily used by people with diabetes. Signos provides real-time diet and exercise recommendations based on an individual’s glucose readings. This data helps users understand how their bodies respond to specific foods and when to exercise for optimal weight loss. The startup recently closed a $20 million funding round led by Cheyenne Ventures and GV, with support from Dexcom Ventures.
While new diabetes and obesity drugs like Ozempic and Wegovy have seen surging sales, Signos aims to offer an alternative solution without the need for medication. Customers can choose one-month, three-month, or six-month plans to receive personalized recommendations based on their CGM data. The long timelines are designed to attract users committed to their weight loss journey.
Signos has conducted a clinical study using Dexcom’s CGMs as part of its approach, focusing on helping users make the right decisions in the moment. Users can integrate additional data, such as sleep, heart rate, and exercise information, to personalize their profiles further.
The startup’s mission is to help people learn how to make better choices for their bodies and support sustainable weight loss. Signos believes that its approach can complement other weight loss tools and help individuals maintain a healthier lifestyle in the long term.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/10/24/signos-raised-20-million-to-tackle-weight-loss-with-cgms-and-data.html
