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Asclepios Bioresearch and Genmedica Sign Clinical Stage Financing Deal

By 8 de November de 2012November 18th, 2020No Comments
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Alec Mian and Luc Martí, founders of Genmedica Therapeutics. © Genmedica.
 08.11.2012

Asclepios Bioresearch and Genmedica Sign Clinical Stage Financing Deal

Asclepios Bioresearch (UK) Ltd entered into an agreement with Genmedica Therapeutics S.L. that secures 12m€ of financing sufficient to complete phase 1 and phase 2 clinical development of Genmedica's lead compound, GMC-252 in type 2 diabetes.


Type 2 diabetes mellitus is one of the most significant global healthcare concerns with millions of people dying annually from disease complications. The World Health Organization estimates that 350 million people worldwide suffer from type 2 diabetes and that this number will almost double by the year 2030. Type 2 diabetes occurs when patients become resistant to insulin and in addition are unable to produce sufficient insulin in the pancreas.

In recent years oxidative stress and inflammation have emerged to be critical processes in the development of a number of diseases including type 2 diabetes. Genmedica has developed a novel class of compounds that are dual action oxidative stress and inflammation (OSIF) inhibitors. GMC-252 is the lead compound in the OSIF class and has been shown in multiple type 2 diabetes animal models to act as a potent anti-diabetic, lowering glucose and lipids. Most importantly, GMC-252 acts directly on the pancreas to preserve the insulin-producing beta-cells.

Simon A Conder, Director of Asclepios Bioresearch said “We are excited to have financed Genmedica’s lead compound GMC-252. We believe this is the first compound in development that not only treats the type 2 symptoms of high glucose and lipids, but in addition may have the potential to significantly improve disease outcome.”

Dr. Alec Mian, CEO of Genmedica said “The deal with Asclepios allows us to quickly advance our clinical plans with an experienced partner and start dosing patients this year. This will allow us to generate phase 1 safety data in 2013 and preliminary efficacy data early 2014. We are very pleased to have our teams working together.”