Poxel raises €26.5M to support Phase III trial in Diabetes

19/07/2016 - 2 minutes

Poxel has closed a capital increase on the Euronext Paris, raising €26.5M. The money is intended to fund its plans to tackle the $4Bn Japanese market for Type 2 diabetes.

poxel type 2 diabetes glimins japanBiotech is tackling diabetes with many different approaches, from new oral drugs to MedTech and cell therapy. In particular, type 2 diabetes (connected to a sedentary lifestyle) is an increasing concern for health authorities. It’s even recognized as a ‘global epidemic‘ by the WHO.

Based near Lyon (France), Poxel focus on developing oral drugs for this type of diabetes. Its leading candidate is Imeglimin, part of a new class of oral antidiabetic therapies called glimins. Glimins target mitochondrial respiration, which plays an essential role in the pathophysiology of diabetes.

After a €27M IPO and finishing a Phase IIb trial in Europe, Poxel has its eyes set on a new goal – the $4Bn market for type 2 diabetes in Japan.

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