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Article: DiObex Raises $24M Series B To Support Diabetes Trials.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Just a few weeks after announcing that lead drug DIO-902 significantly reduced cholesterol levels in a Phase IIa diabetes trial, DiObex Inc. closed a $24 million Series B financing.
New investor Inventages Venture Capital SA, of St-Prex, Switzerland, led the geographically diverse syndicate, which also included new investors Mitsui Ventures, of Tokyo, and Pac-Link BioVentures, of Taipei, Taiwan. Existing U.S.-based investors Domain Associates LLC, Pequot Ventures and Sofinnova Ventures also participated.
The Series B follows a $9 million Series A raised in April 2004 and should carry DiObex through the next 12 to 18 months, ...