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

FinancingUK

23.08.2016 Cambridge University-allied investor Cambridge Innovation Capital has raised £75m (€87m) to reinvest in technology and healthcare companies. Among the backers were Woodford Investment and Winton Ventures.

R&DDenmark

19.08.2016 Together with partner Johnson & Johnson, Danish biotech Genmab is now one step closer to FDA approval with its combination treatment for multiple myeloma after its submission of a supplemental Biologics License Application. In July, Genmab was granted a Breakthrough Therapy Designation (BTD) for its blood cancer therapy.

ResearchUKEU

17.08.2016 Philip Hammond, the UK’S chancellor has announced the government will guarantee funding for EU-backed "structural and investment fund" projects whose timelines extend beyond the UK’s departure from the EU, provided the projects are signed prior to this year's Autumn Statement on the UK budget. The decision ensures continued funding for farmers, companies and institutions involved in the EU’s Horizon 2020 project. The move could cost the UK government up to £6bn (€6.9bn).

Stock marketsGermany

15.08.2016 Back in April, the American FDA gave the green light for the colorectal cancer-screening test Epi procolon. Now Berlin-based diagnostics specialist Epigenomics is considering a secondary listing in the US. A draft of the required registration document was confidentially submitted to the US Securities and Exchange Commission (SEC).

LicensingDenmark

11.08.2016 Danish Genmab AS has granted Gilead Sciences license to use its DuoBody technology platform to develop bispecific antibodies for the treatment of HIV. The deal is worth up to €252m.

Clinical developmentHungaryIreland

09.08.2016 Hungarian Gedeon Richter and Irish Allergan are staying on course in the face of dissappointing Phase III results for depression drug cariprazine. The partners will now begin another Phase III study needed for approval.

ImmunotherapySpain

08.08.2016 Araclon Biotech’s Alzheimer’s vaccine ABvac40 is going forward into Phase II after showing a good safety profile in Phase I. The promising trial results were presented at the Alzheimer’s Association International Conference.

ApprovalEU

04.08.2016 After a two-year pilot period, the EMA has published its report on its adaptive pathways approach. The agency plans to “explore the concept further” and will continue to accept proposals.

BusinessPolandUK

01.08.2016 Life science venture capital group Epidarex has launched Nodthera Ltd, a biotech based on research by Poland-based drug discovery company Selvita. The start-up aims to develop novel inhibitors of the NLRP3 inflammasome.

R&DUKIreland

29.07.2016 GlaxoSmithKline has in-licensed Janssen’s anti-IL-33R monoclonal antibody for severe asthma. The British drugmaker is paying €208m up front for the mAb.

Quick news provided by GlobeNewswire

View more stock news

Events

All Events

Partner-Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MOLMED (I)0.39 EUR11.43%
  • CERENIS THERAPEUTICS HOLDING SA (F)7.51 EUR10.77%
  • SYNGENTA (CH)421.20 CHF10.61%

FLOP

  • RENEURON (UK)2.62 GBP-9.03%
  • BIONOR PHARMA (N)0.48 NOK-7.69%
  • ZEALAND PHARMA (DK)113.50 DKK-6.58%

TOP

  • DIAMYD MEDICAL -B- (S)7.15 SEK70.2%
  • KARO BIO (S)37.80 SEK31.7%
  • NEUROVIVE PHARMACEUTICAL AB (S)5.80 SEK25.0%

FLOP

  • BIONOR PHARMA (N)0.48 NOK-21.3%
  • NOVOZYMES (DK)286.90 DKK-13.5%
  • RENEURON (UK)2.62 GBP-12.7%

TOP

  • KARO BIO (S)37.80 SEK2420.0%
  • NICOX (F)10.12 EUR459.1%
  • SAREUM HOLDINGS (UK)0.76 GBP261.9%

FLOP

  • BB BIOTECH (D)45.12 EUR-81.0%
  • EVOCUTIS (UK)0.04 GBP-78.9%
  • NOVACYT (F)1.29 EUR-70.6%

No liability assumed, Date: 23.08.2016