Diabeloop S.A., the company developing the French ArtificialPancreas raises € 13.5m meeting a new milestone toward commercialization planned in 2018
In order to accelerate its development, Diabeloop S.A. has just raised € 13.5 million of funding in equity, debt, and public subsidies from major investors. This funding will enable the company to meet major upcoming milestones, mainly the CE marking, the completion of complementary clinical studies, as well as the commercial launch of the device.
The Diabeloop Artificial Pancreas is an electronic device that acts as a substitute to the failing pancreas, and constitutes a major clinical breakthrough. It will be made available to doctors and patients in the course of 2018.
A recent study demonstrates the superiority of this electronic device with regards to an open-loop insulin pump for patients of type 1 diabetes during physical activity, high-calorie meals, and during rest. The Artificial Pancreas is being tested in a clinical trial with 60 patients.
The first randomly assigned patients have already worn the device 3 months at home. The first batches of data confirm the excellent results obtained in the previous study. In France, 50 percent of people affected by type 1 diabetes have difficulty balancing their blood sugar levels.