French biotech jumps in­to type 1 di­a­betes space with $30M Se­ries A round

France-based biotech Dio­genX is gear­ing up to jump in­to the race to re­gen­er­ate be­ta cells in di­a­betes pa­tients with the com­ple­tion of a $30 mil­lion (€27.5 mil­lion) Se­ries A fi­nanc­ing round, sup­port­ed by big-name in­vestors like the Roche Ven­ture Fund and Eli Lil­ly.

The funds will go to­ward mov­ing its lead drug can­di­date in­to clin­i­cal de­vel­op­ment in pa­tients with type 1 di­a­betes. Like oth­er com­pa­nies that have been mov­ing in­to the fight against di­a­betes, which cur­rent­ly has no cure, Dio­genX is work­ing to re­gen­er­ate pan­cre­at­ic in­sulin-pro­duc­ing be­ta cells and po­ten­tial­ly erase the need for in­sulin in some pa­tients.

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