Adocia S.A. Adocia SA is a clinical-stage biotechnology company that develops innovative formulations of pre-approved therapeutic proteins and peptides; its proprietary platforms include BioChaperone for molecular delivery of therapeutic proteins, AdoShell for immunoprotective biomaterials in cell transplantation, AdoGel for long-acting drug delivery, and Adoral for oral peptide delivery. The company focuses on treatments for diabetes and obesity, with a clinical pipeline featuring BioChaperone Lispro U100 and U200 as ultra-rapid insulin formulations, BioChaperone Combo combining insulin glargine and lispro, M1Pram combining prandial insulin and pramlintide, and BioChaperone Glucagon; its preclinical pipeline includes AdoShell Islets for islet cell implants, AdOral Sema for oral semaglutide, AdoGel Sema, and BioChaperone CagriSema. Founded in 2005 by the Soula family and headquartered at 115 Avenue Lacassagne in Lyon, France, Adocia operates primarily in Europe while pursuing global partnerships for commercialization in Asia, the Middle East, and beyond, targeting patients with type 1 and type 2 diabetes as well as obesity through improved glycemic control, ease-of-use, and combination therapies. In February 2025, Adocia completed a €9.7 million private placement led by Armistice Capital and existing shareholders including co-founder Gérard Soula, extending its cash runway to Q2 2026 alongside a $10 million milestone from partner Tonghua Dongbao and a €2.8 million research tax credit; the company maintains licensing agreements with Tonghua Dongbao for BioChaperone Lispro and Combo in China and select Asian and Middle Eastern markets, with potential value up to $135 million plus double-digit royalties, and ongoing discussions with Sanofi for M1Pram following a €10 million exclusive negotiation right granted in July 2023. Adocia advances AdoShell technology toward a Q3 2026 clinical trial application for human islet transplantation and prioritizes BioChaperone, AdoShell, and AdOral platforms amid a favorable market for diabetes and obesity innovations.