Thermalin, Inc., a privately held company with its main laboratories in Cleveland, USA, announced a worldwide collaboration with Sanofi to discover and develop novel, engineered insulin analogues.
The collaboration builds on Thermalin’s pioneering science, which alters the insulin molecule to achieve greater therapeutic performance. Thermalin also announced the first closing of a tranched, Series A Preferred financing that will raise at least $17.5M to support the advancement of Thermalin’s programs.
John Brooks, Chairman of the Thermalin Board of Directors and former CEO of the Joslin Diabetes Center in Boston, said “The Sanofi – Thermalin collaboration brings together significant insulin expertise and commitment to innovation in order to deliver disruptive insulins to address the growing diabetes pandemic.”
The collaboration with Sanofi, which represents one of the largest research and development commitments to next-generation engineered insulin analogues, encompasses two Thermalin programs. The collaboration is an outgrowth of Sanofi’s successful Sunrise initiative, a strategic-partnership model that seeks to invest in early-stage opportunities that align with Sanofi’s research, development, and commercialization expertise. The funding and commitment of resources from Sanofi will accelerate and broaden Thermalin’s discovery capabilities and will support a shared commitment to bringing much needed therapies to diabetes patients.
“We believe that Thermalin’s expertise and capabilities will significantly augment our own deep experience in insulin and enable Sanofi to remain a leader in bringing innovative and beneficial insulin therapies to patients,” said Philip Larsen, Global Head of Diabetes Research and Translational Medicine at Sanofi.
Thermalin will use the new funds to expand its R&D team in Cleveland and will be recruiting from around the Midwest and elsewhere.