VisionTech Angels invests in biotech firm focused on diabetes treatment
Indianapolis-based VisionTech Angels has invested $242,000 in Adipo Therapeutics, a pre-clinical stage company seeking to transform the treatment of type 2 diabetes and obesity through a subcutaneous injection. The investment is part of a $2.8 million just-closed seed round for the Indianapolis-based biotech company.
Adipo’s technology helps to manage type 2 diabetes and obesity by converting energy-storing white fat cells into energy-burning brown fat cells, resulting in weight loss and blood glucose control. The company says its lead product is in pre-clinical development.
VisionTech Executive Director Ben Pidgeon says the group’s investors are impressed by the enormity of the technology’s human impact and market potential.
“By 2025, 37 million American will be diagnosed with type 2 diabetes while 64% of the U.S. population will be either overweight or obese,” said Pidgeon. “Adipo’s goal to use the body’s fat to reverse course and help people live healthier lives would be a tremendous breakthrough.”
Adipo was founded by Dr. Meng Deng, an associate professor of Agricultural and Biological Engineering at Purdue University.
The company is led by CEO Karen Wurster, who spent 25 years with Eli Lilly developing, launching and commercializing diabetes treatments.
“I am thrilled to be leading a team to realize the potential of this groundbreaking science to improve the treatment of millions of people suffering with type 2 diabetes and obesity,” said Wurster. “We are appreciative of the support we have received as an Indiana startup from VisionTech, Elevate Ventures, IU Ventures, and Purdue Foundry and look forward to moving our product to the next phase of development.”
Adipo is preparing for a Series A fundraising round that is anticipated to begin later this year.