1 The EIC Accelerator Project

EIC Accelerator Program: Overview and Purpose

The EIC Accelerator program, part of the European Innovation Council (EIC), plays a pivotal role in fostering innovation and supporting deep-tech startups across Europe. Designed to assist small and medium-sized enterprises (SMEs) and startups, the program focuses on scaling breakthrough innovations with high growth potential. It provides a unique blend of funding options, including grants and equity investments, aimed at facilitating the development and commercialization of cutting-edge technologies.

Funding Structure

Under the EIC Accelerator, companies can receive two main types of funding: grants and equity investments. The grant component offers up to €2.5 million, which is intended to cover project costs for research and innovation activities. This funding can be used for product development, prototyping, testing, and other activities necessary for bringing a novel technology to market.

The equity component provides further financial support, with investments of up to €15 million available until 2024, and a reduced maximum of €10 million available from 2025 onward. This equity investment is crucial for companies looking to scale their operations, as it can provide the necessary capital to expand, hire talent, and enhance production capabilities.

Role in the Startup Ecosystem

The EIC Accelerator is instrumental in the European startup ecosystem, particularly in the deep-tech sector. By offering substantial funding and support, it enables companies to bridge the funding gap that often exists in the early stages of development. This support not only helps startups to innovate but also encourages private sector investment by demonstrating the viability of new technologies. The EIC Accelerator's backing can serve as a signal to private investors, making it easier for companies to secure additional funding from venture capitalists and other financial institutions.

Case Study: DIOGENX SAS and the DiogenX Project

Company Overview

DIOGENX SAS, a French biotechnology company, has emerged as a notable winner of the EIC Accelerator program. With a focus on innovative solutions for diabetes management, DIOGENX aims to address critical challenges associated with this chronic disease.

Project: DiogenX

The DiogenX project focuses on beta-cell recovery, a groundbreaking approach aimed at countering diabetes. The project seeks to develop therapies that can regenerate or restore the function of pancreatic beta cells, which are responsible for insulin production. Dysfunction of these cells is a central issue in diabetes, particularly Type 1 diabetes, where the body’s immune system attacks and destroys these essential cells.

Technology Basics

The underlying technology of the DiogenX project revolves around advanced biotechnological methods that aim to promote the survival and regeneration of beta cells. This involves employing novel biomaterials and targeting specific cellular pathways that regulate beta-cell function and longevity. The project leverages innovative techniques, such as stem cell therapy and tissue engineering, to create an environment conducive to beta-cell recovery.

The potential impact of this technology is profound. By restoring the function of beta cells, DiogenX aims to reduce the dependency on insulin injections and improve the quality of life for individuals suffering from diabetes. The project stands at the intersection of biotechnology and regenerative medicine, representing a significant advancement in the treatment of diabetes.

Conclusion

The EIC Accelerator program serves as a vital mechanism for nurturing innovation in Europe, particularly within the deep-tech sector. By providing a hybrid funding model that combines grants and equity investments, it empowers companies like DIOGENX SAS to develop transformative technologies such as the DiogenX project. This initiative not only addresses a critical health challenge but also exemplifies the role of public funding in catalyzing private investment and fostering a vibrant ecosystem for innovation.

2 The Funding Rounds

DIOGENX SAS: A French Innovator in the Spotlight

DIOGENX SAS, a French company, emerged as a winner of the European Innovation Council (EIC) Accelerator funding in March 2023. This significant achievement highlights the company's innovative approach to addressing crucial challenges in the healthcare sector, specifically focusing on beta-cell recovery to counter diabetes.

Financing and Funding Rounds

DIOGENX SAS has successfully secured substantial funding through various rounds. Notably, on May 10, 2023, DiogenX announced that it had received €27.5 million in funding from a group of investors. This funding round was co-led by F. Hoffmann-La Roche Ltd and Boehringer Ingelheim Venture Fund, with participation from Roche Venture Fund, Omnes Capital S.A.S., Eli Lilly and Company, JDRF T1D Fund, and Advent France Biotechnology SAS. This financing demonstrates the strong interest of major pharmaceutical and biotechnology investors in DiogenX's innovative technologies.

Timing and Amount of Funding Rounds

• EIC Accelerator Funding: DIOGENX SAS submitted its Step 2 proposal and won in the Step 3 interview on March 22, 2023, securing funding as part of the EIC Accelerator program. However, specific details about the amount received from the EIC Accelerator are not provided in the available data.
• Private Funding Round: On May 10, 2023, DiogenX received €27.5 million from a consortium of investors, marking a significant private funding round.

Investor Information

DiogenX's funding rounds have attracted a diverse group of investors:

• F. Hoffmann-La Roche Ltd: New investor participating in the May 2023 funding round.
• Boehringer Ingelheim Venture Fund: Returning investor, managed by Boehringer Ingelheim's investment arm.
• Roche Venture Fund: Participated in the May 2023 funding round.
• Omnes Capital S.A.S.: Participated in the May 2023 funding round.
• Eli Lilly and Company: Participated in the May 2023 funding round.
• JDRF T1D Fund: Returning investor, managed by the Juvenile Diabetes Research Foundation.
• Advent France Biotechnology SAS: Returning investor.

Company Valuation

As of the latest available data, specific company valuation details for DIOGENX SAS are not provided. However, the significant investment from major pharmaceutical and biotechnology companies suggests a strong valuation based on its innovative potential.

Exit Events

Currently, there are no reported exit events such as IPOs, buyouts, or acquisitions for DIOGENX SAS. The company remains focused on developing its technologies with the support of its investors.

Conclusion

DIOGENX SAS's success in securing both EIC Accelerator funding and substantial private investments highlights its promising approach to addressing diabetes through beta-cell recovery. With a strong investor base and significant funding, the company is well-positioned for further growth and innovation in the healthcare sector.

Sources

• EIC Accelerator 22 March Cut-Off - European Innovation Council
• Beta-cell recovery to counter diabetes - EU Funding & Tenders Portal
• EIC Accelerator winners and statistics March 2023
• European Innovation Council Accelerator: 51 deep tech start-ups
• DiogenX announced that it has received €27.5 million in funding
• Recent Pharmaceutical and Biotechnology Transactions

3 The Press Releases

DiogenX SAS: Innovations and Updates Since EIC Accelerator Funding

DiogenX SAS, a French biotech company focused on regenerating insulin-producing beta cells for the treatment of diabetes, has made significant advancements since receiving funding from the European Innovation Council (EIC) Accelerator in March 2023. Founded in 2020 based on the groundbreaking research of Professor Patrick Collombat, DiogenX aims to develop a first-in-class, disease-modifying therapy for type 1 diabetes through its lead program, a recombinant protein that modulates the Wnt/β-catenin pathway.

Technology and Innovation

• Beta Cell Regeneration: DiogenX's innovative approach involves using a recombinant protein to replicate insulin-producing beta cells in the pancreas, potentially offering a treatment that could eliminate the need for exogenous insulin in some patients.
• Preclinical Success: The company has demonstrated efficacy in preventing and reversing diabetes in in vivo models of type 1 diabetes and achieved significant increases in functional insulin-producing human beta cells in preclinical experiments. Long-term exposure to the treatment was well tolerated in these studies.

Funding and Partnerships

• Series A Financing: DiogenX successfully completed a Series A financing round that was initially announced in May 2023. The round was led by Boehringer Ingelheim Venture Fund and Roche Venture Fund, with additional investments from Eli Lilly and Company, Omnes, and existing investors like JDRF T1D Fund.
• Sunstone Investment: In October 2023, Sunstone Life Science Ventures Fund IV invested in DiogenX, increasing the total Series A funding to €33.5 million. This investment further solidified DiogenX's position in the biotech community, supporting its goal to advance its lead candidate towards clinical development.

Team and Operations

• Leadership: Benjamin Charles serves as the CEO of DiogenX, and the company has a strong team of experts, including its co-founders and investors from prominent biopharmaceutical companies.
• Research Foundation: DiogenX's work is based on the research of Professor Patrick Collombat, a renowned expert in pancreatic beta cell regeneration. This foundation underscores the company's commitment to science-driven innovation.

Press Releases and Updates

DiogenX regularly updates its progress through press releases, highlighting its achievements in beta cell regeneration and partnerships with leading investors. The company's website and social media channels provide insights into its research advancements and funding milestones.

Sources

• DiogenX
• EIC Accelerator-March 22 2023 Cut Off
• DiogenX Funding
• Sunstone Invests in DiogenX

4 The Technology Advancements

DiogenX SAS: Post-EIC Accelerator Funding Advancements in Beta-Cell Regeneration DiogenX SAS, a Marseille-based biotech company founded in 2020, focuses on regenerating insulin-producing pancreatic beta cells as a disease-modifying therapy for type 1 diabetes (T1D). While public records do not explicitly confirm EIC Accelerator funding awarded on March 22, 2023, the company secured significant financial backing in 2023 through its Series A round and subsequent extensions. Below is an analysis of their progress since early 2023:

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Current Capabilities

DiogenX’s core capability lies in modulating the Wnt/β-catenin signaling pathway using recombinant proteins to stimulate endogenous beta-cell replication. Their lead candidate, DGX-01, has demonstrated preclinical efficacy in reversing T1D symptoms and increasing functional human beta-cell mass. The company maintains research labs in Nice and collaborates with global diabetes experts.

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Post-Funding Advancements (2023–Present)

• Series A Financing: In May 2023, DiogenX closed a €27.5M ($30M) Series A round led by Boehringer Ingelheim Venture Fund (BIVF), Roche Venture Fund, Eli Lilly, and Omnes. By October 2023, this round expanded to €33.5M ($33.8M) with Sunstone Capital joining.
• Preclinical Milestones: DGX-01 showed sustained efficacy in reversing hyperglycemia and improving insulin production across multiple T1D models without safety concerns. Long-term preclinical studies confirmed tolerability and durable beta-cell regeneration.
• Clinical Development: Proceeds are allocated to advance DGX-01 into Phase I trials for T1D patients, though no trial registrations or results are publicly reported as of mid-2024.

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Technology Improvements & Features

The company has not announced new features beyond its core recombinant protein approach but emphasizes DGX-01’s dual potential as a standalone therapy or adjunct to insulin/other beta-cell-targeting treatments. Preclinical data suggest broad clinical utility across T1D stages.

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Market Demonstrations & Clinical Engagement

No pilots or commercial demonstrations are reported; focus remains on IND-enabling studies ahead of clinical trials. Collaborations with JDRF T1D Fund and biopharma investors indicate strategic alignment for future patient access pathways.

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Intellectual Property & Publications

Public filings do not disclose new patents post-March 2023. However:

• The foundational IP derives from co-founder Patrick Collombat’s work on beta-cell regeneration via Wnt pathway modulation—likely protected through earlier filings given the program’s preclinical maturity.
• No recent peer-reviewed publications by Diogenx are identified; updates appear limited to investor communications and press releases highlighting preclinical success [5–7].

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Sources Used:

-Diogenx closes $30M series A round
-About Diogenx
-Series A announcement (May 10)
-Extended Series A announcement (Oct)
-Post-Series A development strategy

5 The Partnerships and Customers

DiogenX SAS: Recent Developments and Partnerships

DiogenX SAS, a French biotech company focused on regenerative medicine, has made significant strides since receiving funding. Founded in 2020, DiogenX is committed to developing innovative biologics, particularly for type 1 diabetes treatment by regenerating insulin-producing beta cells.

Partnerships and Investors

DiogenX has secured partnerships with prominent investors, including Boehringer Ingelheim Venture Fund, Roche Venture Fund, Eli Lilly, Omnes, Sunstone Capital, and the JDRF T1D Fund. These partnerships have been instrumental in advancing its lead program into clinical trials. Notably, in 2023, DiogenX raised €27.5 million in Series A financing, led by Boehringer Ingelheim Venture Fund, with new investors such as Roche Venture Fund joining the consortium.

New Partners and Relationships

As part of the Series A financing, David Evans from Roche Venture Fund joined DiogenX's board of directors, marking a significant new relationship for the company. This addition not only brings financial support but also strategic expertise, positioning DiogenX for further growth and development in the biotech sector.

Nature and Purpose of New Relationships

These new relationships and partnerships are designed to support DiogenX in advancing its lead drug candidate into clinical trials for type 1 diabetes. The collaborations aim to leverage the expertise and resources of the involved parties to enhance the company's technology and scale its operations. Specifically, the partnerships focus on developing a first-in-class regenerative treatment that modulates the Wnt/β-catenin signaling pathway to regenerate pancreatic insulin-producing beta cells, potentially reducing or eliminating the need for exogenous insulin in some patients.

Impact on Market Positioning and Technology Advancements

DiogenX's partnerships will significantly enhance its market positioning by aligning it with major biopharmaceutical companies and diabetes-focused funds. This alignment not only provides financial backing but also access to a broader network of expertise and resources, which can accelerate technology advancements. The support from these entities will help DiogenX navigate the complex regulatory landscape and clinical trial processes, potentially leading to groundbreaking treatments for type 1 diabetes and positioning the company as a leader in regenerative diabetes therapies.

Scaling and Growth

The financial and strategic support from its partners will enable DiogenX to scale its operations effectively. By advancing its lead program into clinical trials, DiogenX is poised to transition from a preclinical to a clinical-stage company, significantly expanding its capabilities and presence in the biotech industry. This transition will be crucial for validating its therapeutic approach and preparing for potential future commercialization.

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Sources: - DiogenX Raises €27.5M Series A Financing

• DiogenX SAS Overview
• DiogenX: Home
• DiogenX Funding Announcement
• About Us - DiogenX

6 The Hiring and Company Growth

DiogenX SAS: Team Growth and Strategic Hiring Post-EIC Accelerator Funding DiogenX, a France-based preclinical biotech focused on regenerative therapies for type 1 diabetes, has maintained a lean operational structure since its inception. While specific headcount figures are not publicly disclosed, the company’s leadership under CEO Benjamin Charles emphasizes a mission-driven approach to developing first-in-class biologics.

As a preclinical-stage entity, DiogenX likely operates with a core team of scientific and executive personnel, common for early-stage biotechs prioritizing R&D over large-scale commercialization. The absence of direct hiring announcements or employment growth metrics in available materials suggests strategic selectivity in team expansion.

Key positions central to DiogenX’s operations include:

• Leadership: Benjamin Charles (CEO) and Patrick Collombat (scientific lead), the latter noted for contributions to beta-cell regeneration research.
• R&D focus: Expertise in biologics development for diabetic therapeutics.

While no recent management changes are reported, the EIC Accelerator funding (awarded March 2023) typically enables scaling through specialized hires in clinical development and regulatory affairs. For DiogenX, this likely translates to future recruitment in translational research roles as candidates progress toward clinical trials. The company’s participation at BIO International Convention 2025 underscores its intent to expand industry partnerships—a move often requiring complementary business development hires.

Growth trajectory post-funding remains undefined publicly but aligns with sector norms where EIC-backed companies prioritize pipeline advancement over rapid headcount inflation. Scaling efforts would focus on securing manufacturing partnerships rather than direct operational expansion given the CDMO-reliant nature of biologics production—a strategy mirrored by peers like Fujifilm Diosynth Biotechnologies in their $8B capacity ramp-up.

Sources

• DiogenX: Home
• DiogenX - BIO International Convention 2025
• Fujifilm Diosynth CEO marks 2025 as era of expansion execution

7 The Media Features and Publications

DIOGENX SAS: Media, Publications, and Event Activity Post-EIC Accelerator Funding DIOGENX SAS, a French biotech firm specializing in beta-cell regeneration therapies for diabetes, gained significant media traction following its EIC Accelerator win in March 2023. The company’s €27.5M fundraising announcement prior to the EIC award catalyzed widespread coverage across industry and mainstream outlets.

Media Features & Publications
The company secured 65+ articles in top-tier publications such as BioCentury, BioWorld, Fierce Biotech, The Wall Street Journal, EndPoints News, LaBiotech, and France’s leading business daily Les Échos. These pieces highlighted DiogenX’s mission to restore insulin-producing beta cells as a long-term solution for diabetes management. A strategic PR campaign organized embargoed interviews and multilingual announcements (French/English), reaching an audience of 42.1 million.

Podcasts & Interviews
While specific podcast appearances are not detailed in available sources, CEO Benjamin Charles participated in six media briefings, including interviews with major biotech outlets such as Endpoints News and BioWorld. Charles emphasized the company’s scientific advancements and market positioning during these engagements.

Conferences & Events
No direct mentions of conference presentations or fair participations post-EIC funding are publicly documented. However, the EIC Accelerator often provides winners with networking platforms at EU innovation events, suggesting potential indirect participation through associated programs. DIOGENX’s visibility through its EIC selection likely enhanced its profile at sector-specific gatherings like BIO International or the European Association for the Study of Diabetes Annual Meeting.

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Sources

• DiogenX Case Study 2305
• EIC Accelerator March 22 Cut-Off Results
• EIC Accelerator Winners March 2023