AdipoPharma, a Strasbourg, France-based biotech company developing a novel and promising type 2 diabetes drug, raised an undisclosed amount in Series A funding.
The round was led by Newton Biocapital II, joined by Good Growth Capital of Charleston, SC.
The company intends to use the funds to accelerate growth and its development efforts.
Established in July 2022 to commercialize the work of its founder, Dr. Vincent Marion, PhD, MSc, biochemist by training and deputy director of the Laboratory of Medical Genetics in Strasbourg at INSERM, the French National Institute for Health and Medical Research, AdipoPharma leverages adipocyte for the treatment of insulin resistance, type 2 diabetes and related disorders. AdipoPharma uses a novel approach to treating Type 2 diabetes. Its drug, PATAS, treats insulin resistance, the root cause of Type 2 diabetes. PATAS has been designed while working on fat cells known as adipocytes. PATAS, by restoring insulin resistance in adipocytes, also restores healthy lipid biosynthesis.
The company expects to enter clinical trials later this year with a drug that represents the first, therapeutic breakthrough for type 2 diabetes treatment in more than a decade.
AdipoPharma will open a U.S. office in Pittsburgh as it prepares for clinical trials later this year.
Dr. Marion has also established AdipoPharma’s scientific advisory board, with internationally recognized experts in type 2 diabetes, including:
- Dr. Paul Zimmet, sciencific advisory board chairman and internationally recognized pioneer in diabetes and obesity research
- Dr. Alexander (Zan) Fleming, former senior endocrinologist at the FDA
- Dr. Alan Cherrington, past president of the American Diabetes Association
FinSMEs
23/01/2023