STRASBOURG, France, January 23, 2023 (GLOBE NEWSWIRE) — AdipoPharma, a French biotech company developing a promising new drug for type 2 diabetes, announced today that it has successfully secured Series A funding. It expects to enter clinical trials later this year with a drug that represents the first therapeutic breakthrough for the treatment of type 2 diabetes for over a decade.
Newton Biocapital II (NBC II), a venture capital firm focused on investing in and developing early-stage life science companies in Europe and Japan targeting chronic health conditions, led the Series A investment.
AdipoPharma uses a new approach to treat type 2 diabetes. Unlike most current diabetes drugs that treat the symptoms of the disease, AdipoPharma’s drug, PATAS, treats insulin resistance, the main cause of type 2 diabetes. PATAS was designed while working on the fat cells known as 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 in Strasbourg at INSERM, the French National Institute of Health and Medical Research. doctor Marion has spent the last 10 years researching the critical and overlooked role that adipocytes play in type 2 diabetes.
“This funding is a huge 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 move quickly and reach 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 has not had a single new therapeutic development in over a decade. PATAS was the scientific article presented in the August issue of Diabetes magazine. doctor Marion has spoken at several major conferences about her groundbreaking research.
AdipoPharma will open a US office in Pittsburgh as it prepares for clinical trials later this year.
The Doctor. Marion assembled a team of experienced, high-profile pharmaceutical executives, former senior FDA members, and academic scientists to lead the development of PATAS. He also established AdipoPharma’s scientific advisory board of internationally recognized experts in type 2 diabetes, including:
- doctor Paul Zimmet, Chairman of the Scientific Council and internationally recognized pioneer in diabetes and obesity research
- doctor Alexander (Zan) Fleming, former Senior FDA Endocrinologist
- doctor Alan Cherrington, former president of the American Diabetes Association
Alain Parthoens, CEO of Newton Biocapital; “We are pleased to support AdipoPharma on its journey to provide an innovative treatment for type 2 diabetes that has the potential to transform the lives of millions of patients around the world. We look forward to seeing the first clinical readings in the coming months.”
Newton Biocapital has teamed up with Good Growth Capital of Charleston, SC.
Isabelle Pelletier-Bressac, founder and CEO of the French consultancy 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.