DiogenX Attracts Significant Funding for Disease-Modifying T1D Therapy
Privately-held European biotechnology company, DiogenX, continues to attract significant funding from sophisticated healthcare investors for its lead program, a first-in-class recombinant protein that aims at replicating insulin-producing beta cells in the pancreas. This novel approach has the potential to offer a disease-modifying therapy for type 1 diabetes, a chronic and life-threatening condition that affects millions of people worldwide.
“We are working to develop a breakthrough therapy to harness the patient’s own remaining endogenous beta cells to increase insulin production and modify the course of type 1 diabetes, potentially eliminating the need for exogenous insulin in some patients,” said Benjamin Charles, CEO of DiogenX.”
In October 2023, the company announced that Sunstone Life Science Ventures, a leading European venture capital firm focused on life science therapeutics, had invested in its $33.8 million Series A financing round.
DiogenX, which is focused on regenerating insulin-producing beta cells for the treatment of diabetes, intends to use capital raised in 2023 to advance its lead candidate towards clinical development.
Commenting on the recent investments, Mr. Charles said, “We are grateful for the continued support of our existing investors and the trust of our new investors. Together, we share a common vision to bring innovative solutions for patients with type 1 diabetes.”
Lead investors in DiogenX’s work are Roche Venture Fund, Boehringer Ingelheim Venture Fund, Eli Lilly and Company, Omnes, the JDRF T1D Fund and AdBio partners.
About DiogenX
DiogenX is a biotech company focused on regenerating insulin-producing beta cells for the treatment of diabetes. Founded in 2020 based on the research of leading type 1 (T1D) diabetes scientist Patrick Collombat on pancreatic beta cell regeneration, DiogenX is developing first-in-class recombinant proteins designed for the treatment of T1D. DiogenX’s lead program is focused on modulating the Wnt/β-catenin signalling pathway to regenerate pancreatic insulin-producing beta cells to offer a disease-modifying therapy for type 1 diabetes. It is currently in preclinical development. DiogenX is supported by a network of world-leading experts in diabetes and a consortium of investors.
The company, co-founded by Patrick Collombat, Jean-Pascal Tranié and Benjamin Charles, is based in Marseille, France, with research labs in Nice, France.
