Poxel develops novel, first-in-class therapies for Type 2 Diabetes, with a lead program Imeglimin—a new class of oral agents (the Glimins) that target mitochondrial bioenergetics and act on liver, muscle and pancreas. Imeglimin is in a phase IIb monotherapy trial in 400 patients and has shown efficacy as an add-on to metformin and sitagliptin in prior studies. The company also advances a direct AMPK activator program that is nearing phase 1 development. Poxel was spun out from Merck Serono, founded in 2009, and operates as a lean, independent organization. Recent financing activity is intended to accelerate Imeglimin development, progress the AMPK program and initiate development activities in Asia, supporting the company’s near-term clinical plans and capital runway. Poxel SA is a Lyon, France–based biopharma startup developing drugs focused on Type 2 diabetes. Its lead program, Imeglimin, is the first in a new Tetrahydrotriazine-containing class of oral anti-diabetics (the Glimins) and acts on the liver, muscle and pancreas. Imeglimin is in Phase II development as both monotherapy and as an add-on to metformin and sitagliptin and has shown significant clinical benefits in add-on studies. The company intends to use the €13m Series B proceeds to confirm efficacy data and to run a large six-month monotherapy trial involving 400 diabetic patients. Poxel’s pipeline also includes a direct AMPK activator in preclinical development. Founded in 2009 as a spin-off from Merck Serono and led by CEO Thomas Kuhn, the company operates lean to reach clinical proof-of-concept before seeking pharmaceutical partners and previously raised €16m in a 2010 Series A. Poxel is a Lyon, France-based diabetes drug development specialist spun off from Merck Serono. Its lead program is Imeglimin, an oxidative phosphorylation inhibitor being developed to treat Type 2 diabetes. The company raised €16m in a Series A financing to advance that program. Proceeds are earmarked to demonstrate Imeglimin’s clinical potential both as monotherapy and in combination. In conjunction with the financing, four new board members joined, including Thierry Hercend as Chairman and representatives from the lead and participating investors. CEO Thomas Kuhn said the funding will help advance the product pipeline and clinical development.

Total raised

$50M

Funding rounds

4

Latest round

Series B

Latest activity

Sep 2014