Cebix to Raise $20 Million for Pivotal Trial of Diabetes Supplement
San Diego’s Cebix, founded in 2008 to develop a new supplemental treatment for complications arising from type 1 diabetes, intends to raise more than $20 million in a Series B round needed to fund pivotal trials, according to VentureWire. Cebix CEO James Calloway told VentureWire the startup raised $28.5 million from Sofinnova Ventures, InterWest Partners, and Thomas McNerny & Partners in its first round of funding.
At the American Diabetes Association’s annual scientific conference in San Diego last summer, Cebix presented data on its C-peptide replacement therapy to address microvascular damage associated with type 1 diabetes.
As we reported at the time, C-peptide has been shown to play a role in keeping the smallest blood vessels healthy in different tissues. The deficiency of C-peptide, which is produced naturally in the body during the process that forms insulin, leads to nerve damage and a variety of other complications in patients with type 1 diabetes.
Diabetics using insulin often experience a circulatory-related decline in nerve function, kidney function, and vision from a deficiency of the peptide. Callaway said Cebix is completing a 30-patient study of C-peptide replacement therapy, and plans to conduct a pivotal trial with 600 patients.