SAN FRANCISCO, April 7, 2021 /PRNewswire/ — Pendulum Therapeutics – a biotech firm bettering well being by way of merchandise concentrating on the microbiome – in the present day introduced a $54 million funding led by Meritech Capital with participation from current traders together with Sequoia Capital, True Ventures and Khosla Ventures. This Sequence C spherical almost doubled everything of Pendulum’s earlier raises and brings the entire enterprise capital raised to $111 million.
As lead investor, Meritech Common Companion Craig Sherman will sit down on the Pendulum Board of Administrators alongside Roelof Botha, a companion at Sequoia, and Adam D’Augelli, a companion at True Ventures.
“We expect Pendulum is a subsequent technology pharma firm doing subsequent technology gene sequencing,” stated Sherman. “Pendulum may very well be one other 10x Genomics, Datadog, Snowflake or Roblox, that are Meritech investments that went public within the final two years. Pendulum feels prefer it may very well be that, as a result of they’re creating one thing that is really differentiated and will really change an individual’s life.”
“Craig, Roelof and I are enthusiastic about Pendulum as a result of they’re utilizing the microbiome in a completely new manner, to create a never-before-seen product,” stated D’Augelli. “There’s an enormous white area right here. With many dietary supplements, there isn’t any strategy to inform in the event that they’re even working, whereas medicines are artificial and may have uncomfortable side effects. At Pendulum, substances are sourced from the microbiome that naturally lives inside our our bodies, and their formulation are rigorously examined for security and effectiveness. This new hybrid product Pendulum has created is protected, requires much less capital than a drug to carry to market, and may very well be extremely useful for hundreds of thousands of individuals.”
Pendulum launched its first product, a medical probiotic known as Pendulum Glucose Management, in January 2020. It’s the solely probiotic clinically proven to decrease blood sugar spikes and A1C ranges in individuals with kind 2 diabetes, even on prime of metformin. Outcomes of Pendulum’s gold customary scientific trial have been published in BMJ Open Diabetes, a prestigious peer-reviewed journal.
Pendulum Glucose Management is welcome information for greater than 120 million individuals dwelling with diabetes and prediabetes. The corporate reported a surge in demand in This fall 2020 and Q1 2021, and excessive buyer satisfaction throughout a number of measures*:
- 74% of subscribing prospects with kind 2 diabetes are nonetheless utilizing the product after 5 months
- 86% of consumers surveyed report lowered A1C
- 86% of consumers surveyed report improved intestine well being
- 79% of consumers surveyed report lowered glucose ranges/spikes
“We’re grateful for our prospects, in addition to our traders who proceed to acknowledge our ground-breaking analysis into the microbiome,” stated Colleen Cutcliffe, PhD, cofounder and CEO of Pendulum Therapeutics. “Whereas our direct-to-consumer path is extra nimble than our pharma friends, we’ll by no means reduce corners. Pendulum is a group of achieved scientists, and our merchandise will all the time undergo rigorous testing to determine efficacy. We imagine customers can – and may – demand hard-core scientific outcomes from any firm that’s making claims about well being advantages.”
Cutcliffe stated the brand new enterprise capital funding can be used to extend the manufacturing and gross sales of Pendulum Glucose Management; ramp-up manufacturing of pipeline merchandise to handle the administration of different persistent illnesses; and conduct further analysis – together with scientific trials – to additional show the corporate’s major speculation: The microbiome is essentially the most thrilling and promising frontier in well being and vitamin science.
For extra info and testimonials from prospects, please go to www.pendulumlife.com.
*Prospects surveyed by Pendulum from April – July 2020. N=38 prospects with kind 2 diabetes who had taken Pendulum Glucose Management for 3 months or extra. Survey respondents obtained a $40 Amazon reward card for finishing the survey.
About Pendulum Therapeutics
Pendulum Therapeutics believes therapies developed utilizing evidence-based microbiome science and DNA sequencing may help heal the physique from inside. Armed with 13 patents and 42 pending, the corporate launched its flagship product Pendulum Glucose Control, a medical probiotic, in 2020 and demonstrated its efficacy in decreasing blood sugar spikes and decreasing A1C in a printed clinical trial. Based in 2013 by a various group of scientists with deep microbiology, biochemistry, computational, and scientific experience, Pendulum has raised $111 million to this point from Meritech Capital, Sequoia Capital, True Ventures, Khosla Ventures, AME Cloud Ventures and Mayo Clinic amongst others. Pendulum Therapeutics is headquartered in San Francisco.
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SOURCE Pendulum Therapeutics