Diasome Pharmaceuticals has received fresh funding of up to $30 million led by Medicxi, a European life sciences venture capital firm.
This is the first investment from Medicxi’s recently announced Growth Fund I. Other investors in this round include the JDRF T1D Fund, Black Beret Life Sciences and an investor group led by McDonald Partners.
Diasome’s Hepatocyte Directed Vesicles (HDV) technology additive to commercial insulin therapies allows preferential delivery of insulin to the liver’s hepatocytes.
HDV-insulin is the most clinically advanced novel pre-meal insulin in the global insulin pipeline, and if approved would represent the first insulin therapy specifically designed to mimic the mealtime exposure of the liver to insulin.
“Medicxi founding partner Dr Michele Ollier said: “It has never been understood why insulin as a hormone replacement therapy cannot mimic the endogenous insulin activity.
“With HDV liver-targeted insulin, Diasome is providing a simple and elegant answer to this problem, with their preliminary human data showing that HDV makes commercial insulin more physiological, and therefore, significantly more effective.”
Diasome will use the proceeds of this funding to continue its clinical development program and general operations, including the execution of its ongoing ISLE-1 (InSulin Liver Effect) Phase 2b study of HDV-Insulin in subjects with Type 1 diabetes.
This study is being conducted at more than 20 sites in the United States and is nearing the end of its enrollment period. Diasome has also initiated patient enrollment in two new Phase 2 human (Type 1 diabetes) studies of HDV + insulin within the last month.