Medicxi’s new fund jumps off the beat­en biotech path to lead a $30M round for di­a­betes pro­gram

Medicxi jumped far off the beat­en biotech track and joined with some ir­reg­u­lars on the in­vest­ment side for the first bet with its new ven­ture fund, back­ing a late-stage de­vel­op­ment pro­gram tar­get­ed at di­a­betes — one of the tough­est gam­bles in R&D.

The Eu­ro­pean VC led a $30 mil­lion round for Di­a­some Phar­ma­ceu­ti­cals, a Cleve­land-based biotech that’s de­vel­op­ing a new tech aimed at amp­ing up the ef­fec­tive­ness of in­sulin. Join­ing with Medicxi: JDRF T1D Fund in Boston, Black Beret Life Sci­ences in Hous­ton and an in­vestor group led by Mc­Don­ald Part­ners. The move comes just a few weeks af­ter Medicxi un­veiled their new $300 mil­lion fund, look­ing for more ad­vanced clin­i­cal pro­grams to back on both sides of the At­lantic.

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