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This Software Business Just Raised $20 Million to Combat Weight Loss With Data as Ozempic and Wegovy Take Off

Although the demand for new diabetic and obesity medications like Wegovy and Ozempic has skyrocketed recently, weight loss has always been a lucrative industry.

Ozempic and Wegovy had increases in sales of 58% and 363%, respectively, in the first half of 2023. The reason for this is that between early 2020 and the end of the previous year, the number of prescriptions for those GLP-1 treatments—which mimic a hormone in the gut to reduce appetite—increased by 300% on a quarterly basis.

Drug makers aren’t the only ones coming up with novel remedies, though, as consumers and businesses spend more money and resources trying to combat the obesity epidemic, which costs the U.S. more than $170 billion annually.

A five-year-old business called Signos is using a non-pill technique.

The business uses commercial continuous glucose monitors, or CGMs, and offers real-time dietary and exercise advice based on a person’s data. CGMs are tiny sensors that persons with diabetes wear on their upper arms to track their blood glucose levels. The data is wirelessly transmitted to a smartphone, enabling the user to better anticipate emergencies.

Source (CNBC)

SourceCNBC
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