Poxel raises EUR 26.5M

Poxel S.A. (Euronext:POXEL) raised EUR 26.5 million ($29.3 million) in a private placement of 3.4 million shares at EUR 7.80 with U.S. and European institutional investors.

Next year, Poxel intends to begin a Phase III study in Japan of imeglimin to treat Type II diabetes. The therapy is an inhibitor of mitochondrial permeability transition pore (PTP) opening. ...