Eli Lilly has led a series C round for the diabetes treatment developer, which plans to complete preclinical testing of its lead therapy.
Seraxis, a US-based developer of therapies for diabetic patients, has closed a $40m series C round led by pharmaceutical firm Eli Lilly.
The round also featured Frazier Healthcare Partners, Polaris Ventures, JDRF T1D Fund and unnamed investors.
Founded in 2013, Seraxis has developed a cell replacement therapy for insulin-dependent diabetes patients. The company uses lab-grown pancreatic islets, a group of cells from the pancreas that produce insulin, which has shown the potential to reverse diabetes in preclinical animal testing.
The…
