A local BioTech company based in Dauphin has opened a new investment opportunity for anyone interested in investing in the work that they are doing surrounding treating and curing Type 2 Diabetes.
Mick Loutt is CEO and Co-Founder of SciMar, whose main office has been located in Dauphin since 2018.
He says about 18 months ago, they started looking into a new U.S. securities offering known as Regulation A+
"It allows us to register as if we were going to do an IPO, but we can stay private. And because the registration process is so thorough it then allows us to solicit investment from the retail investor, which means people that are in a different wealth bracket. So we can also bring the investment amount down. In the past, we have had a minimum investment of $100,000 or $50,000, depending on the group, and now you can invest for $99 U-S as our minimum."
Loutt says they were founded on 20 years of work done by his father at his research facility at the University of Manitoba.
"We discovered that there is a second hormone that is related to Type 2 Diabetes that you are missing. It is called Paladin and it comes from the liver and it works alongside insulin from the pancreas. For a type 2 diabetic, what our research is showing is that you do not need more insulin, you are actually missing the paladin. And so everything we are doing is trying to bring a suite of products and techniques that allow us to protect and bring back the paladin action in the body."
Loutt says diabetes affects 1 on 3 Canadians, and has the potential to have a significant effect on the younger population in our country.
"Half the Canadian population of young people are on track to develop Type 2 Diabetes in their lifetime if we do not intervene. With the indigenous population, the numbers are quite a bit higher for a number of reasons. We are about 80 per cent of our indigenous youth will become Type 2 Diabetics if we do not intervene. "
You can find out more information regarding the investment opportunity by going online to www.scimar.ca.
You can also listen to their podcast, titled "Inside the Breakthrough" which can be found on most podcast streams.
