In 2017, Defymed dreamed of raising 10 million euros to finalize the development of its bioartificial pancreas. This polymer bag, which encloses insulin-producing cells, was presented as a major medical breakthrough. Some diabetic patients, subjected to daily insulin injections, would see their treatment protocol simplified. In 2019, needs were reassessed at 15 million euros.
This start-up founded in Strasbourg in 2011 by Séverine Sigrist, head of laboratory at the European Center for the Study of Diabetes (CEED), finally managed to raise 1.8 million euros, sufficient to launch a clinical study. Medtech-oriented investment funds, approached in Europe and the United States, have so far declined the invitation. In their place, the Cap Innov Est regional fund, launched in 2014 by local authorities to support start-ups and innovation on their territory, is hooly-finance.com 1 million euros.
Bpifrance supports the Defymed project by providing an additional 800,000 euros. Cumulatively, Séverine Sigrist’s business has thus raised and consumed almost 10 million euros since 2011. Cap Innov’Est becomes the majority (38% of the capital), after an initial contribution made in 2015. The European Center for Diabetes study, at the origin of the creation of Defymed, still holds 20% of the capital.