New €15 Million Funding Round for Diabeloop

Diabeloop, a pioneer in AI-based therapeutic solutions for diabetes management, announces an acceleration in its development with:
– A new €15 million funding round
– A new leadership with the appointment of François Miceli as Chairman and CEO

Date: March 26, 2024
Location: Paris, March 4, 2024

Diabeloop, a pioneer in AI-based therapeutic solutions for diabetes management, is accelerating its development with:
– A new €15 million funding round
– A new leadership team with the appointment of François Miceli as Chairman and CEO

The new €15 million funding round will enable Diabeloop to take the next steps in its growth. It complements the Series C round completed in early 2022.

This funding will allow Diabeloop to:
– Accelerate the revenue growth of its closed-loop system integrating the DBLG1 algorithm
– Prepare for the launch of DBLG2, an algorithm integrated into a smartphone application, compatible with both Android and iOS

Diabeloop’s first commercially available semi-closed loop solutions offer automated and personalized management of type 1 diabetes and highly unstable type 1 diabetes. By combining a continuous glucose monitor (CGM) and an insulin pump, Diabeloop’s cutting-edge algorithms analyze data in real-time and automatically deliver insulin. This transforms the lives of patients by simplifying their treatment decisions, improving glycemic control, and significantly reducing the mental burden associated with diabetes management.

This solution has already proven its real-world impact, with more than 10,000 patients equipped across Europe to date.

“Our commercial expansion of the DBLG1 Automated Insulin Delivery (AID) system will continue with several insulin pump partners,” said Cécile Ferracci, Chief Commercial Officer. “In particular, we have recently launched in France, Germany, and the Netherlands the DBLG1 system compatible with Vicentra’s Kaleido pump, which is our first MDR-certified product. We are preparing to launch systems compatible with the Dana-i pump from Sooil and the MEDISAFE WITH patch pump from Terumo in the coming months. This should provide strong momentum for our commercial acceleration.”

François Miceli’s appointment as Chairman and CEO brings new energy to Diabeloop

François Miceli brings Diabeloop the experience of a seasoned entrepreneur and successful investor:
“Having invested in Diabeloop since 2017, I have witnessed both the excellence and versatility of its technological solutions, and the outstanding quality of its teams. Diabeloop is at a decisive commercial inflection point, and I intend to contribute my experience toward achieving rapid and large-scale commercial success, as well as concluding new strategic partnerships in the very near future.”

Biography

For over 20 years, François Miceli has brought his expertise to various listed biotech and medtech companies in Europe and the United States, in roles ranging from business development to CEO and board member. Notable examples include NASDAQ-listed IDEXX Laboratories, SYNBIOTICS, LMD Pharma, IMAXIO, and EDULIS Technologies. François also participated in the founding of ERYTECH PHARMA (now PHAXIAM THERAPEUTICS), where he served as Chairman of the Supervisory Board for four years.

He joined private equity firm SOFIMAC PARTNERS in 2012 as a Senior Partner and later became Managing Partner of SOFIMAC INNOVATION. Following the merger with UI Investissement, François served as Senior Associate Director for Innovation. He was also Chairman of INSERM TRANSFERT INITIATIVE and the METROPOLES INNOVATIONS fund.

François MICELI has been following Diabeloop’s development since 2017 as an investor and board member.