Poxel SA, a France-based company spun off from the pharmaceutical division of Merck, has raised $17.1 million in venture backing to fund a clinical trial for an experimental Type 2 diabetes drug, Bloomberg reports.
According to Bloomberg, the compound imeglimin is part of a new class of oral anti-diabetics called glimins, and has shown promising results in previous trials.
A safer alternative to existing medications could be a potentially lucrative market for the company should the trials prove successful. Other Type 2 diabetes medications have given rise to health concerns.
Merck’s own Januvia and Eli Lilly’s Byetta have been linked to pancreatitis and pancreatic cancer. Byetta has also been linked to an increased risk of thyroid cancer.
Type 2 is the more common form of the diabetes and affects about 366 million people worldwide, Bloomberg reports. The International Diabetes Federation says it’s on the rise, and the number of patients is expected to jump to 552 million by 2030.
The story says this is the second round of financing from the company’s existing investors. The next clinical trial will test the new drug as a stand-alone treatment on 400 patients beginning in early 2013. Data is expected a year later.
You should consult with a doctor if you have any ongoing symptoms or health concerns, and before making any changes in medication. You should also consult with a Lopez McHugh attorney if you or a loved one was diagnosed with pancreatic cancer after taking Januvia or Byetta.
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