Copenhagen, Denmark and Marseille, France, Oct 31, 2023 – Sunstone Life Science Ventures
(Sunstone), a leading European venture capital firm focused on life science therapeutics, today
announced that Sunstone’s Fund IV has invested in the Series A financing round of DiogenX now
increased to €33.5 million ($33.8M). In May, DiogenX, a biotech company focused on regenerating
insulin-producing beta cells for the treatment of diabetes, had announced its initial Series A financing
round.

DiogenX was founded in 2020 based on the groundbreaking research of Professor Patrick
Collombat, a world-renowned expert in pancreatic beta cell regeneration. The Company’s lead
program is a first-in-class recombinant protein that aims at replicating insulin-producing beta
cells in the pancreas. This novel approach has the potential to offer a disease-modifying therapy
for type 1 diabetes, a chronic and life-threatening condition that affects millions of people
worldwide.

In this Series A round, Sunstone LSV Fund IV joins lead investors Roche Venture Fund and
Boehringer Ingelheim Venture Fund (BIVF), alongside new investors Eli Lilly and Company and
Omnes and existing investors JDRF T1D Fund and AdBio partners. The funding will enable
DiogenX to advance its lead candidate towards clinical development.
“We are very impressed by the scientific achievements and the vision of DiogenX’s team. We
believe that their approach to regenerate beta cells has the potential to transform the treatment
landscape for type 1 diabetes and to improve the lives of millions of patients” said Claus
Andersson, General Partner at Sunstone and board member of DiogenX. “We are delighted to join
this strong syndicate of specialized investors and to support DiogenX in its next phase of growth.”
“Sunstone is a highly respected and experienced investor in the European biotech ecosystem.
We are thrilled to have them on board as we work towards the clinic with our lead program,” said
Benjamin Charles, co-founder and CEO of DiogenX. “We are grateful for the continued support
of our existing investors and the trust of our new investors. Together, we share a common vision
to bring innovative solutions for patients with type 1 diabetes.”

About Sunstone
Sunstone is an independent European venture capital investment firm founded in 2007.
Sunstone focuses on scientifically advanced assets, and invests to develop and expand preclinical stage life science companies with strong potential to achieve global success within their
therapeutic fields. Sunstone has invested in more than 50 companies and has completed more
than 23 successful exits and IPOs. Sunstone ranks among the most active European investors in
life science therapeutics. For more information, please visit sunstone.eu.

About DiogenX
DiogenX is a biotech company focused on regenerating insulin-producing beta cells for the
treatment of diabetes.
Founded in 2020 based on the research of leading type 1 (T1D) diabetes scientist Patrick
Collombat on pancreatic beta-cell regeneration, DiogenX is developing first-in-class
recombinant proteins designed for the treatment of T1D.
DiogenX’s lead program is focused on modulating the Wnt/β-catenin signalling pathway to
regenerate pancreatic insulin-producing beta cells to offer a disease-modifying therapy for type
1 diabetes. It is currently in preclinical development.
DiogenX is supported by a network of world-leading experts in diabetes and a consortium of
investors including diabetes and biopharma leaders Boehringer Ingelheim Venture Fund, Roche
Venture Fund, Eli Lilly and Company, Omnes, JDRF T1D Fund, Sunstone and AdBio partners. The
company founded by Patrick Collombat, Jean-Pascal Tranié and Benjamin Charles, is based in
Marseille, France, with research labs in Nice, France.
www.diogenx.com

Contact
Sunstone: Claus Andersson, PhD, General Partner, andersson@sunstone.eu, +45 22 70 50 65
DiogenX: Andrew Lloyd & Associates / SaƯiyah Khalique – Celine Gonzalez
saƯiyah@ala.associates / celine@ala.associates, UK: +44 1273 952 481, US: +1 203 724 595.
@ALA_Group