Dauphin-based firm reports significant progress
DAUPHIN, MANITOBA – SciMar Ltd., a Dauphin-based life sciences firm, held its Annual General Meeting on May 28, reporting significant research progress and company development.
SciMar was established in 2009 to transform the prevention and treatment of type 2 diabetes by advancing research into hepatic insulin-sensitizing substance (HISS), a hormone discovered by Dr. Wayne Lautt in 1996. Based on the research, SciMar is developing a suite of products to bring its discoveries to market.
“We are getting closer to conducting large-scale clinical trials. This will be a major milestone, as these trials will move us toward getting the required approvals from regulatory agencies,” said Mick Lautt, Scimar’s Chief Executive Officer. “Medical research is a long game, but we can see the finish line. We owe our progress to the support and vision of investors in Dauphin. This will be a great Manitoba success story!”
In 2018, a seed round of investment attracted CAD$2.8 million from 29 different investors, mainly Dauphinites. A Series A round of investment will open in the fall of 2019. Dr. Wayne Lautt, who serves as SciMar’s Chief Scientific Officer, is Professor Emeritus, Department of Pharmacology and Therapeutics, at the University of Manitoba. He has 200+ peer-reviewed publications to his credit, including 40 papers dealing with the HISS hormone.
“The science is fascinating and we were proud to tell investors yesterday that every step we have taken in the lab so far has confirmed our hypotheses,” said CEO Lautt. “We are excited about this, not only as a business and investment opportunity, but as a remarkable initiative to transform global health and push back the type 2 diabetes epidemic.”
For further information, contact:
Mick Lautt, Chief Executive Officer
T: (204) 470 4872