French Biotech Company AdipoPharma Secures Series A Funding for Groundbreaking Diabetes Drug
First Breakthrough Addressing Insulin Resistance in Type 2 Diabetes Treatment
STRASBOURG, France, Jan. 23, 2023 (GLOBE NEWSWIRE) -- AdipoPharma, a French biotech company developing a novel and promising type 2 diabetes drug, 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 type 2 diabetes treatment in more than a decade.
Newton Biocapital II (NBC II), a venture capital firm focused on investing and growing early-stage life sciences companies in Europe and Japan that target chronic health conditions, led the Series A investment.
AdipoPharma uses a novel approach to treating Type 2 diabetes. Unlike most current diabetes drugs that treat the symptoms of the disease, AdipoPharma’s drug, PATAS, treats insulin resistance, the root cause of Type 2 diabetes. PATAS has been designed while working on 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, a biochemist by training and deputy director of the Laboratory of Medical Genetics in Strasbourg at INSERM, the French National Institute for Health and Medical Research. Dr. Marion has spent the last 10 years researching the critical, and overlooked, role that adipocytes play in type 2 diabetes.
“This funding is a major step forward for AdipoPharma and in our quest to treat insulin resistance, the primary cause of type 2 diabetes,” Dr. Marion said. “The funding will allow us to move quickly and hit our product development milestones. We are excited to start clinical trials this year with the first drug specifically targeting insulin resistance in adipocytes.”
AdipoPharma’s novel approach to diabetes has already created a buzz around a disease that has not seen a single new, therapeutic development in more than a decade. PATAS was the featured science paper in the August issue of Diabetes magazine. Dr. Marion has spoken at several key conferences about his groundbreaking research.
AdipoPharma will open a U.S. office in Pittsburgh as it prepares for clinical trials later this year.
Dr. Marion has assembled a team of high-profile, experienced pharmaceutical executives, former senior FDA members, and academic scientists to lead the development of PATAS. He has also established AdipoPharma’s scientific advisory board, with internationally recognized experts in type 2 diabetes, including:
- Dr. Paul Zimmet, sciencific advisory board chairman and internationally recognized pioneer in diabetes and obesity research
- Dr. Alexander (Zan) Fleming, former senior endocrinologist at the FDA
- Dr. Alan Cherrington, past 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 read-outs 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 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 in the world.