Lyon, France, July 8, 2010 - Poxel Raises €16 million in a Series A Financing to Accelerate Pipeline Development - Poxel SA, a diabetes drug development specialist, announces that it has raised €16 million (USD 19.7 million) in a Series A round. Poxel is a spin off from Merck Serono. The financing round was led by Edmond de Rothschild Investment Partners (EdRIP); other investors in the financing are InnoBio fund, managed by CDC Entreprises within FSI France Investment program and Crédit Agricole Private Equity. A significant part of the funds will be used to rapidly advance the company’s Iead program, Imeglimin, an oxidative phosphorylation inhibitor, to treat Type 2 diabetes.Imeglimin is a first-in-class oral anti-diabetic that has demonstrated efficacy and safety in diabetic patients in two Phase IIa trials. Imeglimin is being developed in monotherapy and in combination with key treatments. Imeglimin has an innovative mode of action that targets the three key defects of Type 2 diabetes, inhibiting hepatic gluconeogenesis, increasing muscle glucose uptake and restoring normal insulin secretion. Poxel has five further promising anti-diabetic programs in early development. These also include a new class of direct AMPK activators close to preclinical development stage...
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...About Poxel SA
Poxel, founded in 2009 is a biopharmaceutical company developing innovative first-in-class drugs with a primary focus on Type 2 diabetes. The company will develop drug candidates to clinical proof of concept before partnering with pharmaceutical partners. Poxel was spun out from Merck Serono a division of Merck KGaA, Germany. Poxel now operates completely independently as a lean organization with strong in-house drug development expertise.
Imeglimin, an oxidative phosphorylation inhibitor, is a first in a new class or oral anti-diabetic treatments, the Glimins. Imeglimin is delivering promising clinical results and has the potential to become the leading second line treatment for Type 2 diabetes either as a monotherapy or in combination with other treatments. Imeglimin acts on three main target organs involved in glucose homeostasis: the liver, muscle, and the pancreas... Poxel's Press Release -
