40 million-euro private financing at DeveloGen

German functional genomics company DeveloGen AG has completed a 40million euros ($35.6 million) private financing round, led by Dresdner Kleinwort Capital. Thismoney will allow it to accelerate additional applications of its DeveloScreen integrated in vivo functional technology platform, advance its diabetes and obesity programs and implement procedures for further corporate growth, says the company.

The DeveloScreen platform utilizes the conservation of gene function hypothesis that human genes have counterparts in lower organisms. Using phenotypical variations in fruitfly, zebrafish, chick and mouse models, the firm says it can rapidly identify novel genes and validate their corresponding function, and relate these discoveries to disease.

Using fruitfly models as an entry point, DeveloGen has identified genes affecting fat storage and metabolism, and has advanced this program to discover large numbers of drug discovery targets which may have potential in the treatment of obesity. It has also discovered the PAX family of genes responsible for the generation of insulin-producing pancreative beta cells and is now researching this gene family as a potential therapeutic target for the treatment of diabetes.