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DiObex closes $24mm Series B round

Executive Summary

DiObex (therapeutics for metabolic disorders) raised $24mm in its Series B financing round led by Inventages Venture Capital with additional participation from new investors Mitsui Ventures and Pac-Link BioVentures, and returning shareholders Domain Associates, Pequot Ventures, and Sofinnova Ventures. The proceeds will be used to move the company's two lead compounds--DIO901 for Type I diabetes and DIO902 for Type II diabetes--through Phase II. A member each from Inventages, Mitsui, Sofinnova (chairman), and Pac-Link (observer) will join DiObex's board.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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