Diabeloop raises €13.5 million to develop artificial pancreas
Categorie(s) : Industry, MINATEC, News
Published : 3 October 2017
Grenoble-based startup Diabeloop, founded in partnership with
Leti and diabetes research center CERITD to develop an artificial pancreas for insulin-dependent diabetics, raised €13.5 million in July 2017. Aliad (an Air Liquide company), Supernova Invest funds, Sofimac Partners, Kreaxi, and two Crédit Agricole regional investment funds injected €7.5 million in fresh capital into the company. The remaining €6 million in financing came from banks Bpifrance, CASRA, and Banque Populaire ARA. The influx of funds and new investors will position Diabeloop to speed up the development of its artificial pancreas with additional clinical trials, obtain the CE mark, and complete studies to obtain healthcare insurance approval for reimbursement. The artificial pancreas is expected to be released in 2018.