France's Adocia Completes 2012's First Euro Biotech IPO
This article was originally published in The Pink Sheet Daily
French drug delivery company, Adocia, raises $33 million to develop new formulations of therapeutic proteins for wound healing, diabetes
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A concentrated insulin formulation and extra clinical data were instrumental in Lilly’s second deal on the use of Adocia’s BioChaperone technology for an ultra-fast-acting insulin, with the latest agreement between the two companies providing funds for Adocia to pursue other insulin research areas.
European biotech companies that have lead products turned down by big pharma are now considering the benefits of taking drugs through late-stage development themselves; more funding options, such as concluding an IPO in the U.S. or Europe, is driving some of this change.