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With the latest economic and business news and insights from Grenoble-Isère

20 September 2017

Diabeloop raises €13.5 million

The Grenoble-Isère based Diabeloop startup, presently developing an artificial pancreas service, has raised €13.5 million euros of equity, debt and public aid financing (Bpifrance). The round included a capital increase of €7.5 million from Sofimac Partners, Aliad (Air Liquide group), Supernova Capital and Kreaxi Capital.

 

With the finances, Diabeloop hopes to speed up the development and time-to-market of its same-name device designed for type 1 diabetes patients. There are three parts to reproducing pancreas functions with Diabeloop: a glucose sensor collects data which it transmits to a terminal containing a complex algorithm to determine the best dose of insulin to be delivered to the connected pump. Also, to improve long-term treatment, the data are transmitted in parallel to a monitoring service.

 

The first round of closed-loop clinical trials held in 2014 was highly successful. Feedback from the investigation centers is very positive too regarding the current clinical trials aimed at attaining CE marking. The company is planning to launch the system first in France in 2018 and then in Europe and the US at the end of 2019.