Medtech firm Thermalin raises $17.5 million, announces partnership with Sanofi to develop insulin therapies

Story excerpt provided by Crain’s Cleveland Business.

Written by Scott Suttell.

Thermalin Inc. of Cleveland said it has raised $17.5 million in Series A financing and has formed a partnership with French pharmaceutical company Sanofi, which led the funding round, to develop insulin therapies for people with diabetes.

The funding round includes participation from Tokyo fund JSR mblVC LifeScience Investment Limited Partnership; Green Park & Golf Ventures of Dallas; Thermalin’s existing investors; and other undisclosed investors, Thermalin said in a news release issued on Thursday, Sept. 28.

Thermalin said it will “use the new funds to expand its R&D team in Cleveland and will be recruiting from around the Midwest and elsewhere.”

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Originally published September 28, 2017.

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