KGK receives funding for ingredients trials

By Jess Halliday

- Last updated on GMT

Related tags Diabetes mellitus type 2

KGK Synergize has received a financial boost to help speed its
pipeline of ingredients to market, with the completion of an equity
private placement.

The Canadian developer said in April that it was seeking funding of between C$7 and $10m to bring three new products to market, aimed at consumers concerned about type II diabetes, melanoma, and prostate, colon and skin cancers. It retained Janus Corporate Finance as principal advisor.

The terms of the placement have not been disclosed, but CEO and co-founder Najla Guthrie told today: "We received what we needed to get these ingredients to market"​.

KGK required funding since it required more capital than it could generate internally from its contract research business and royalties from Sytrinol, its cholesterol-lowering ingredient launched in 1997.

The first of the new market entrants is expected to be Diabetinol for type II diabetes prevention within eight to 12 months, a formulation of citrus-derived flavanoids and limonoids. Guthrie said that clinical trials on this ingredient will be initiated straight away.

Preliminary results have been positive, indicating that Diabetinol can have a role in lowering glucose levels and preventing the onset of type-2 diabetes.

The next product, to follow six to 18 months later, will be Dermytol, an extract of an agricultural grain that has high levels of phenolic acid, for both oral and topical use. Since it is a bi-product of the grain, the company has access to raw material supplies at low cost.

In vitro and animal studies in which it was seen to inhibit the proliferation of melanoma cells. Clinical trials will be initiated within the coming weeks.

Products to address the third area, prevention of several forms of cancer (colon, prostate and skin cancer) are a little further off.

Guthrie said in April that KGK plans to work directly with each channel of distribution, moving up the value chain.

This strategy relates only to the new products. Sytrinol, the cholesterol-lowering ingredient launched in 1997, twill continue to be distributed by SourceOne.

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