France’s Poxel Raises $20.1 Million to Fund Diabetes Medicines

July 8 (Bloomberg) -- Poxel SA, a French biotechnology company spun off from Merck KGaA, raised 16 million euros ($20.1 million) in early funding from investors including Edmond de Rothschild Investment Partners.

CDC Entreprises and Credit Agricole Private Equity also invested, Lyon, France-based Poxel said today in an e-mailed statement. The venture funding, the largest so-called series A financing in France since 2005, will support the company until the end of 2012, the company said....continue