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.
Biotech 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.