AdipoPharma Raises Series A Funding
- AdipoPharma, a Strasbourg, France-based biotech company developing a novel and promising type 2 diabetes drug, raised an undisclosed amount in Series A funding
- The round was led by Newton Biocapital II, joined by Good Growth Capital of Charleston, SC
- The company intends to use the funds to accelerate growth and its development efforts
- The company expects to enter clinical trials later this year with a drug that represents the first, therapeutic breakthrough for type 2 diabetes treatment in more than a decade
- The company will open a U.S. office in Pittsburgh as it prepares for clinical trials later this year
