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.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.