$300m megafund places first bet on Ohioan diabetes startup

American diabetes startup Diasome Pharmaceuticals has received up to $30 million in funding from a group of four investors, led by British life science venture capitalists Medicxi.

Incorporated in 2008, Diasome raised $12.9 million in equity debt the following year from an undisclosed source.

Commenting on the new investment, Medicxi founding partner Michele Ollier explained: “It has never been understood why insulin as a hormone replacement therapy cannot mimic the endogenous insulin activity.”