EdRIP leads €13m series B round in Poxel

Omnes Capital and the InnoBio fund, which is managed by CDC Enterprises within the FSI France Investment programme, also took part in the round. All the investors were existing Poxel backers, having contributed to a €16m series-A financing round in July 2010.

The fresh capital will be put towards confirming efficacy data for Imeglimin, Poxel's lead programme.

Company
Poxel is a French biopharmaceuticals company based in Lyon. It was established in 2009, after being spun out of Swiss pharma company Merck Serono. Poxel focuses on developing treatment solutions for type 2 diabetes. The business is not profitable yet.

The company's lead programme, Imeglimin, is an anti-diabetic agent currently in phase II clinical trials as both monotherapy and add-on therapy. It has already shown efficacy in clinical proof-of-concept trials.

People
Raphael Wisniewski, partner, led the investment on behalf of EdRIP. Thomas Kuhn is CEO of Poxel. 

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