Poxel Closes €13M Series B Funding
Summary
Poxel SA, a Lyon, France-based biopharma startup developing drugs with a primary focus on Type 2 diabetes, has closed a €13m (approximately $17m) Series B funding.The round was led by Edmond de Rothschild Investment Partners, with participation from existing investors InnoBio and Omnes Capital.Poxel now plans to strengthen its efficacy profile as a monotherapy treatment in a large six-month trial involving 400 diabetic patients.Imeglimin acts on three main target organs involved in glucose homeostasis: the liver, the muscle, and the pancreas with therefore a distinct mode of action compared to existing treatments for Type 2 diabetes.It manages investments for France’s FSI (Fonds Stratégique d’Investissement), for the Caisse des Dépôts (now its second largest investor) and for other public and private institutions in the small and medium size business sector.
Funding
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