MelliCell, a startup dedicated to reversing obesity and type 2 diabetes by targeting fat cells, has announced today the close of its pre-seed round and the appointment of Todd Zion, Ph.D., President and CEO of Akston Biosciences, as a member of its advisory board.
Dr. Zion brings business, diabetes, and bioscience expertise to the board. Prior to his current role at Akston Biosciences, Dr. Zion was the founder and CEO of SmartCells, where he led the development of the first glucose-regulated insulin formulation, SmartInsulin. Dr. Zion took the diabetes-focused company from founding in 2003 to an acquisition in 2010.
"Dr. Zion is a wonderful addition to our advisory board as we pursue our goal to cure diabetes and obesity," said Dr. Prince Nnah, CEO of MelliCell. "Our company was founded at the beginning of the pandemic, and the devastation left in the wake of COVID-19 has made it clear that the need to address metabolic diseases is more urgent than ever before. We are grateful to all of our investors and advisors, like Dr. Zion, who support our efforts to get to the root of obesity and diabetes."
Since its inception in 2020, MelliCell's unique approach to tackling metabolic diseases has garnered excitement and support from industry leaders and investors. Joined in its most recent funding round was Kensington Capital and other angel investors. MelliCell's next funding round, a series seed, is planned for the third quarter this year.
"MelliCell has a vision and a novel approach that could revolutionize the treatment of the disease," said Dr. Zion. "I am thrilled to be in this role supporting them."