DiogenX SA raises €27.5M in Series A financing
French pancreatic beta-cell modulator specialist DiogenX SA has raised €27.5m in a Series A financing led by Boehringer Ingelheim Venture Fund and Roche Venture Fund.
The Marseille-based specialist for beta cell regeneration announced it want to use the proceeds to advance its first-in-class regenerative treatment for type 1 diabetes towards clinical development.The company DiogenXs lead program aims to regenerate pancreatic insulin-producing beta cells by conversion of alpha cell using a recombinant R-spondin-1 protein which modulates the Wnt/?-catenin signalling pathway through modulation of the transcription factor ARX.
To date, the company has demonstrated efficacy in preventing and reversing diabetes in in vivomodels of type 1 diabetes and achieved a first proof of principle with a significant increase in functional insulin-producing human beta cells in preclinical experiments. Long term exposure was well tolerated in preclinical studies, supporting the ability to safely intervene on the Wnt/?-catenin pathway with DiogenXs approach. Collectively, the data show potential for broad clinical utility both as monotherapy and in combination with insulins and/or other therapies targeting pancreatic ß-cells.
New investors Roche Venture Fund, Eli Lilly and Company and Omnes joined this round alongside existing investors Boehringer Ingelheim Venture Fund (BIVF), JDRF T1D Fund, and Adbio partners. DiogenX previously raised €4.5M ($4.8M) in June 2020.
Type 1 diabetes is an autoimmune disease affecting 8.7 million people worldwide, in which insulin-producing beta cells in the pancreas are mistakenly destroyed by the bodys immune system. It impairs patients metabolism, affecting how they process and store glucose from blood. It occurs in children and adults.There is currently no cure.
