Vogenx raised $81 million in its Nasdaq IPO to advance mizagliflozin, an oral drug being developed for post-bariatric hypoglycemia (PBH)—a potentially serious late complication of bariatric surgery in which patients experience dangerous drops in blood sugar after meals. PBH can develop months to several years after surgery and currently has no FDA-approved treatment.
Mizagliflozin takes a different approach from other treatments in development: it selectively blocks SGLT1 in the intestinal lumen, slowing glucose absorption and reducing the downstream insulin response after meals. Vogenx has completed two Phase 2 studies showing reductions in glucose absorption, insulin secretion and hypoglycemic events, and is preparing a Phase 2b trial, with preliminary results expected in 2027.
The GI relevance extends beyond bariatric complications. Vogenx plans to put mizagliflozin into a Phase 2 trial for gastroparesis, another major GI disorder, while also exploring the drug in GIP-dependent Cushing’s syndrome. The company says the IPO proceeds will fund both the PBH and gastroparesis programs.