DiogenX, a Marseille, France-based preclinical stage biotech company specializing in the development of pancreatic beta-cell modulators for the treatment of type one diabetes (T1D), closed a seed financing round of €4.5m ($4.8M).
Backers included Advent France Biotechnology (AFB), the Boehringer Ingelheim Venture Fund and the JDRF T1D Fund. In conjunction with the financing, Matthieu Coutet, Managing Partner at AFB, Johannes Zanzinger, Investment Director at BIVF, and Katie Ellias, Managing Director at the JDRF T1D Fund, have joined DiogenX’s Board of Directors.
The company intends to use the funds to select its drug candidate and prepare preclinical development before the next round of Series A financing in late 2021.
Founded in December 2019 by Patrick Collombat, Benjamin Charles and Jean-Pascal Tranié, and led by Benjamin Charles, CEO, DiogenX is a preclinical stage biotech company, specializing in the development of pancreatic beta-cell modulators for the treatment of Type 1 (T1D) and Type 2 Diabetes (T2D). The company, which also has research labs in Nice, France, aims to discover and develop a candidate molecule that regenerates pancreatic insulin-producing cells in patients with diabetes, offering benefits in terms of quality of life and survival. It was discovered in the laboratory of Dr. Patrick Collombat (Inserm, CNRS, Nice University) in France, DiogenX is developing an innovative therapy with the potential to be the first beta-cell regeneration drug for diabetes.