
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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