Marseille-based DiogenX, a preclinical-stage biotech company specialising in the development of pancreatic beta-cell modulators for the treatment of diabetes, announced on Wednesday, May 10, that it has raised €27.5M in a Series A round of funding.
Prior to this, the French company raised €4.5M in June 2020.
The funding came from 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.
Katie Ellias, MD at JDRF T1D Fund, says, “We are thrilled to continue our support of the DiogenX program in this important step towards the clinic. Restoring a patient’s own pancreatic function without the need for surgery would have a game-changing, disease-modifying impact for the T1D community, who currently rely on insulin therapy.”
With this deal, David Evans, Investment Director at the Roche Venture Fund will join DiogenX’s board of directors.
New therapeutic solutions for diabetic patients
An autoimmune disease known as type 1 diabetes occurs when the body’s immune system mistakenly destroys insulin-producing beta cells in the pancreas. It interferes with the patient’s metabolism, changing how they use and store blood glucose.
Both adults and children can get it. There is presently no treatment, and its causes are not entirely understood. This is where DiogenX is looking to make a difference.
Founded in 2020 by Patrick Collombat, Jean-Pascal Tranié and Benjamin Charles, DiogenX is a biotech company focused on regenerating insulin-producing beta cells for the treatment of diabetes.
The company claims to develop “first-in-class” recombinant proteins intended for the treatment of type 1 diabetes based on the work of leading type 1 diabetes researcher Patrick Collombat on pancreatic beta cell regeneration.
In order to provide a disease-modifying treatment for type 1 diabetes, DiogenX’s primary programme is focused on manipulating the Wnt/β-catenin signalling system to regenerate pancreatic insulin-producing beta cells. Preclinical development is where it is at the moment.
As of now, DiogenX has successfully prevented and reversed type 1 diabetes in vivo models of the disease and obtained a first proof of concept by increasing the number of functioning, insulin-producing human beta cells in preclinical studies.
The company reports that long-term exposure was well tolerated in preclinical experiments, indicating that DiogenX’s method can safely intervene with the Wnt/β-catenin pathway.
Collectively, the outcomes suggest the potential for wide therapeutic application, both as a stand-alone treatment and in combination with existing pancreatic ß-cell treatments and/or insulins.
Capital utilisation
According to DiogenX, the money will be used to move the primary medication candidate towards clinical testing on people with type 1 diabetes (T1D).
“We are working to develop a breakthrough therapy to harness the patient’s remaining endogenous beta cells to increase insulin production and modify the course of diabetes, potentially eliminating the need for exogenous insulin in some patients,” says Benjamin Charles, CEO of DiogenX.
“The successful closing of this financing and the strong consortium of biopharma and diabetes leaders bring DiogenX the funds and the expertise required to advance our lead program towards Phase 1 in type 1 diabetes patients.”
01
Code to AI: How Le Wagon is training product builders who can adapt to a moving tech landscape