(MENAFN- GlobeNewsWire - Nasdaq) Global Investments Pave Way for Breakthrough treatment for Type 2 Diabetes
STRASBOURG, France, Nov. 11, 2024 (GLOBE NEWSWIRE) -- AdipoPharma , a biotech company headquartered in France with offices in the US and Belgium developing a novel and promising Type 2 diabetes drug, announced today that it has successfully secured the funding needed to begin Phase 1 clinical trials. The company is slated to begin clinical trials in the U.S. in mid-2025.
This crucial funding will enable AdipoPharma to accelerate its clinical development, marking a major milestone in the journey toward bringing a first-in-class compound to the market that directly targets insulin resistance, the root cause of Type 2 diabetes.
AdipoPharma received funding from key global investors, including:
Newton Biocapital Sambrinvest Investsud Okeanos Good Growth Capital
Alain Parthoens, CEO of Newton Biocapital, said:“AdipoPharma's mission to deliver a groundbreaking Type 2 diabetes treatment focused on insulin resistance could significantly improve the lives of millions globally. We're delighted to support the company as it embarks on Phase 1 trials in the months ahead.”
Amy Salzhauer, managing Partner at Good Growth Capital said:“PATAS is the first, therapeutic breakthrough for Type 2 diabetes treatment in more than a decade. We're proud to partner with AdipoPharma to begin Phase 1 trials, and one day soon, bring this much-anticipated drug to market.”
Aaron Berkey, Managing Partner at Okeanos, said:“AdipoPharma's vision is to change the course of diabetes treatment and solve a major global health condition that impacts millions of people. We are proud to support Dr. Marion and his world-class team.”
AdipoPharma is developing a compound with a novel mechanism for treating Type 2 diabetes. Unlike most current diabetes drugs that treat the symptoms of the disease, like common weight loss, AdipoPharma's compound, PATAS, is a whole-body insulin sensitizer able to treat insulin resistance, the root cause of Type 2 diabetes. PATAS has been designed to work on fat cells known as adipocytes. By restoring glucose uptake and utilization in impaired adipocytes, PATAS, reboots healthy lipid biosynthesis, leading to improved glycated hemoglobin (HbA1c) levels as well as addressing the complications of the disease including diabetic neuropathy, cardiovascular dysfunction, liver disease, and muscle loss.
The company was founded by its President and CEO, Vincent Marion, PhD, MSc, a biochemist by training, a researcher at INSERM, the French National Institute for Health and Medical Research, and the former deputy director of the Laboratory of Medical Genetics in Strasbourg. Dr. Marion has spent the last 10 years researching the critical, and overlooked, role that adipocytes play in Type 2 diabetes, a role he explored through the study of rare genetic human diseases.
“PATAS represents a scientific breakthrough in our quest to treat insulin resistance, the primary cause of Type 2 diabetes,” Dr. Marion said.“We are so grateful to our global investors for their support as we prepare to begin clinical trials. Our vision is to create a world where insulin resistance and Type2 diabetes are no longer a life sentence.”
As a French-headquartered company, AdipoPharma has received strong support from the French government-sponsored organizations designed to promote French Science to the world.
Emmanuel Poteaux, Acting CEO of SATT Conectus, said:“The French biotech ecosystem has been following and supporting AdipoPharma closely for several years. We're excited for Dr. Marion and his team, as they prepare for clinical trials next 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, scientific advisory board chairman and internationally recognized pioneer in diabetes and obesity research Dr. G. Alexander (Zan) Fleming, former senior endocrinologist at the FDA Dr. Alan Cherrington, past president of the American Diabetes Association Dr Ralph DeFronzo, Chief of the Diabetes Division of the Texas Diabetes Institute
More than 500 million people worldwide have Type 2 diabetes/insulin resistance, and that number is expected to reach a 1.3 billion by 2050 according to Lancet Diabetes. Type 2 diabetes is one of the leading causes of kidney disease, amputation, and premature death in the world.
About AdipoPharma
AdipoPharma restores the normal function of the adipocyte for the treatment of insulin resistance, type 2 diabetes, and related disorders. The company was established in July 2022 to commercialize the work of its founder, Dr. Vincent Marion, PhD, MSc, biochemist by training and researcher at INSERM, the French National Institute for Health and Medical Research.
AdipoPharma SAS is headquartered in Strasbourg, France, with offices in Pittsburgh Pennsylvania, USA and Gosselies, Belgium.
CONTACT: John Reynolds, ...
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