DiObex

About DiObex

DiObex, Inc. was a privately-held biopharmaceutical company established in 2003 with a focus on developing treatments for metabolic diseases. Headquartered in San Francisco, the firm directed its efforts towards addressing conditions such as diabetes and obesity. The company's name itself was derived from the diseases it aimed to treat: diabetes, obesity, and syndrome X. The core of DiObex's business model was the clinical development of proprietary drug candidates, with the ultimate goal of bringing new therapeutic products to the market for patients with metabolic disorders.

A significant milestone in the company's trajectory was securing a $24 million Series B financing round in April 2007, led by Inventages Venture Capital. This capital was earmarked to advance its two lead drug candidates through Phase 2 clinical trials. The investor syndicate included both new and existing backers such as Mitsui Ventures, Pac-Link BioVentures, Domain Associates, Pequot Ventures, and Sofinnova Ventures. Key figures during this period included Daniel Green, who served as President, and David Cory, the CEO.

DiObex's pipeline featured two main products. The first, DIO-901, was a very low dose formulation of glucagon designed to prevent insulin-induced hypoglycemia, particularly nocturnal hypoglycemia, in patients with type 1 diabetes. This product received Fast Track status from the FDA and was being developed in convenient delivery forms like a disposable device and an extended-release injection. The second candidate, DIO-902, was a cortisol synthesis inhibitor aimed at treating type 2 diabetes by lowering cortisol levels, which are linked to the condition. The company initiated Phase 2b trials for DIO-902 to evaluate its safety and efficacy. Despite its clinical progress, DiObex ceased operations in April 2009, laying off its employees and seeking to sell its assets.