French biotech company AdipoPharma secures Series A funding for breakthrough diabetes drug
Newton Biocapital II leads funding round For a one-of-a-kind drug to treat insulin resistance
First breakthrough in the fight against insulin resistance in the treatment of type 2 diabetes
STRASBOURG, France, Jan. 23, 2023 (GLOBE NEWSWIRE) — AdipoPharmaa French biotech company developing a promising new drug for type 2 diabetes, today announced that it has successfully secured Series A funding. It plans to enter clinical trials later this year with a drug which represents the first therapeutic breakthrough for the treatment of type 2 diabetes in more than a decade.
Newton Biocapital II (NBC II), a venture capital firm focused on investing and growing early-stage life science companies in Europe and Japan that target chronic diseases, led the Series A investment .
AdipoPharma uses a new approach to treat type 2 diabetes. Unlike most current diabetes medications which treat the symptoms of the disease, AdipoPharma’s drug, PATAS, treats insulin resistance, the root cause of diabetes type 2. PATAS was designed by working on fat cells called adipocytes. PATAS, by restoring insulin resistance in adipocytes, also restores healthy lipid biosynthesis.
The company was founded by its President, Vincent Marion, PhD, MSc, biochemist by training and deputy director of the Laboratory of Medical Genetics of Strasbourg at INSERM, National Institute of Health and Medical Research. Dr. Marion has spent the past 10 years researching the critical and overlooked role adipocytes play in type 2 diabetes.
“This funding is a major step forward for AdipoPharma and in our quest to treat insulin resistance, the leading cause of type 2 diabetes,” said Dr. Marion. “The funding will allow us to act quickly and achieve our product development milestones. We are excited to begin clinical trials this year with the first drug specifically targeting insulin resistance in adipocytes. »
AdipoPharma’s new approach to diabetes has already created a buzz around a disease that hasn’t seen a single new therapeutic development in over a decade. PATAS was the scientific article featured in the August issue of Diabetes magazine. Dr. Marion has spoken at several key conferences about his groundbreaking research.
AdipoPharma will open a US office in Pittsburgh as it prepares for clinical trials later this year.
Dr. Marion has assembled a team of experienced senior pharmaceutical executives, former senior FDA members, and academic scientists to lead the development of PATAS. He also created the scientific council of AdipoPharma, made up of internationally recognized experts in type 2 diabetes, including:
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Dr. Paul Zimmet, Chair of the Scientific Advisory Board and internationally renowned pioneer in diabetes and obesity research
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Dr. Alexander (Zan) Fleming, former senior endocrinologist at the FDA
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Dr. Alan Cherrington, former president of the American Diabetes Association
Alain Parthoens, CEO of Newton Biocapital, said: “We are delighted to support AdipoPharma on its journey to provide an innovative type 2 diabetes treatment that has the potential to transform the lives of millions of patients worldwide. We look forward to seeing the first clinical readings in the coming months. »
Newton Biocapital was joined by Good Growth Capital of Charleston, SC.
Isabelle Pelletier-Bressac, founder and CEO of the French consulting firm AttLeva Conseils, served as a financial advisor. She introduced AdiopoPharma to Newton Biocapital.
More than 500 million people worldwide have type 2 diabetes, and that number continues to rise. Type 2 diabetes is one of the leading causes of kidney disease, amputation and death worldwide.
About AdipoPharma
AdipoPharma harnesses the power of the adipocyte for the treatment of insulin resistance, type 2 diabetes and related disorders. The company was created in July 2022 to commercialize the work of its founder, Dr. Vincent Marion, PhD, MSc, biochemist by training and deputy director of the Laboratory of Medical Genetics of Strasbourg at INSERM, the National Institute of Health and Medical Research. .
Dr. Marion and his team of researchers have spent more than a decade identifying cellular targets based on the role of the adipocyte in metabolic diseases inspired by rare genetic diseases. PATAS, a therapeutic peptide, is the result of this research and is the first representative of a new class of drugs called “Adipeutics”.
PATAS has been shown to restore healthy lipid biosynthesis in adipocytes of diseased animal models and is expected to be the first diabetes drug to have significant beneficial effects on insulin resistance, type 2 diabetes, elimination of pancreatic beta-cell plaque, hepatic steatosis and fibrosis correlated with decreased levels of ceramides.
AdipoPharma SAS is based in Strasbourg, France, with a US office in Pittsburgh. www.adipopharma.com
About Newton Biocapital
Newton Biocapital (“NBC”) is a venture capital firm focused on life science start-ups targeting chronic disease. NBC is one of eight venture capital firms certified by AMED in Japan to boost the pharmaceutical ecosystem and the only one with offices in Japan/Europe. NBC’s diverse team of experts and presence in Japan and Europe enables NBC to identify and select the most promising companies based on the exceptional research ecosystem of these two regions. NBC offers investment opportunities that can help patients and society, as well as foster the growth of Japanese/European biotech ecosystems.
NBC is an active investor and leverages its expertise to help its portfolio companies focus on the right indication and clinical trial design, helping them successfully progress through the challenging early stages of drug development. drugs to proof of concept in patients. NBC enables rapid, cost-effective translation from science to proof of concept in patients that attracts potential acquirers and unlocks value – for patients, companies and investors.
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