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Powel raises €10 Million

Poxel SA announces  that it has raised €10 million ($13.5 million) through a Series B extension with the Large Venture investment division of Bpifrance (Banque Publique d'Investissement) and a debt facility from Kreos Capital. The Series B financing, originally led by Edmond de Rothschild Investment Partners (EdRIP) now totals €18 million ($24 million). The funds will be used to accelerate the development of the company’s lead program, Imeglimin, a novel anti-diabetic agent and to move forward a direct AMPK activator program which has proven benefits in controlling hyperglycemia and dyslipidemia and is now ready for phase 1 clinical trials.

 

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