News

Meet the glimins: Poxel raises €13m
Enlarge image

DiabetesFranceSwitzerlandGermany

Meet the glimins: Poxel raises €13m

19.12.2012 - Poxel has successfully closed a Series B financing round. A big share of the €13m will go into the research of glimins, a new anti-diabetics class.

This pill tastes like sugar. Investors of French Poxel SA believe in the biotech’s oral anti-diabetic drug and invest another €13m in a Series B round. Poxel from Lyon announced the news on 18 December. The financing, led by Edmond de Rothschild Investment Partners (EdRIP), included all existing investors such as the InnoBio fund managed by CDC Enterprises within FSI France Investment programme and Omnes Capital (formerly Crédit Agricole Private Equity). According to the press release, a significant part of the funds will be used to confirm efficacy data of the company's lead programme, Imeglimin. The drug is the first in a new Tetrahydrotriazine-containing class of oral anti-diabetics, the glimins.

Poxel was established in 2009, when German Merck KGaA merged with Swiss Serono. The company’s platform are those drug candidates for metabolic diseases that Merck-Serono elected not to continue. In 2010 Poxel raised €16m. Now, with refilled pockets, the small company is about to bring Imeglimin through Phase II trials as a monotherapy and as an add-on therapy to the main anti-diabetic agents, starting with metformin and sitagliptin. However, a crucial Phase IIb study starts in early 2013, when Imeglimin's efficacy profile as a monotherapy treatment will be evaluated in a large six-month trial involving 400 diabetic patients.

Imeglimin has a mitochondria-based mechanism of action, targeting the respiratory chain. It acts on the three key defects of Type 2 diabetes, inhibiting hepatic gluconeogenesis, increasing muscle glucose uptake and restoring normal insulin secretion. Thierry Hercend, MD, PhD and Chairman of the board believes that Imeglimin has the „potential to become a new anti-diabetic standard treatment.”

© eurobiotechnews.eu/ml

http://www.european-biotechnology-news.com/news/news/2012-04/meet-the-glimins-poxel-raises-eur13m.html

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Research and DevelopmentFranceGermany

07.08.2015 In a deal worth more than €300m, Sanofi has partnered up with German drug discovery and development company Evotec in order to develop beta cell-modulating diabetes therapies.

M&AIrelandUK

05.08.2015 Irish pharma and biotech major Shire wants to be number one in orphan diseases, and is setting out to acquire US-American Baxalta in a US$30bn deal – by any means necessary.

R&DUKSweden

04.08.2015 In a deal worth US$65m upfront, AstraZeneca is again teaming up with long-time partner Isis Pharmaceuticals Inc., this time to discover and develop RNA antisense drugs for cardiovascular, metabolic and renal diseases.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NEUROVIVE PHARMACEUTICAL AB (S)23.00 SEK25.00%
  • BAVARIAN NORDIC (D)41.03 EUR20.85%
  • TIGENIX (B)1.02 EUR17.24%

FLOP

  • EVOCUTIS (UK)0.18 GBP-10.00%
  • BIOTIE THERAPEUTICS (FI)0.20 EUR-9.09%
  • THROMBOGENICS (B)2.90 EUR-6.15%

TOP

  • KARO BIO (S)38.10 SEK2311.4%
  • TRANSGENE (F)5.08 EUR78.2%
  • BIOTECH PHARMACON (N)12.60 NOK33.1%

FLOP

  • THROMBOGENICS (B)2.90 EUR-43.0%
  • WILEX (D)2.05 EUR-37.5%
  • BIONOR PHARMA (N)1.28 NOK-37.3%

TOP

  • KARO BIO (S)38.10 SEK4546.3%
  • ADOCIA (F)86.70 EUR432.2%
  • VERONA PHARMA (UK)4.92 GBP339.3%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-85.7%
  • BIOTEST (D)19.93 EUR-76.0%
  • NEOVACS (F)0.96 EUR-72.7%

No liability assumed, Date: 28.08.2015