Healthcare Industry News: Second Genome
News Release - April 20, 2016
Second Genome Secures $42.6 Million in Series B Financing Led by Pfizer Venture Investments and Roche Venture FundFinancing to expand the Second Genome Microbiome Discovery Platform and accelerate the clinical development of pipeline programs
SOUTH SAN FRANCISCO, Calif., April 20, 2016 -- (Healthcare Sales & Marketing Network) -- Second Genome, Inc., a privately-held biopharmaceutical company developing novel medicines through innovative microbiome science, today announced that it has closed an oversubscribed Series B investment round with $42.6 million in financing. The round was co-led by Pfizer Venture Investments and Roche Venture Fund, and brings the combined total investment in the company to $59 million. The round also included new investors Digitalis Ventures, Adveq, LifeForce Capital, MBL Venture Capital, and Mayo Clinic, as well as Series A investors Advanced Technology Ventures, Morgenthaler Ventures, Seraph Group, and individual investor Matthew Winkler, Ph.D.
The funds will be used to further expand the Second Genome Microbiome Discovery Platform in a range of indications associated with barrier function, insulin sensitivity, and immune regulation. In addition, proceeds from the financing will be used to advance the clinical investigation of SGM-1019, a small molecule inhibitor of a key microbiome-mediated target to address inflammation and pain in ulcerative colitis, through human proof-of-concept studies.
"Our approach to developing novel therapeutics based on secreted functional proteins, peptides, and metabolites from the microbiome is highly relevant to the pharmaceutical industry. The progress made by our team to date has allowed us to attract significant interest from a premier group of investors, including Pfizer Venture Investments and Roche Venture Fund," said Peter DiLaura, Second Genome's CEO. "This financing will enable us to accelerate our efforts to scale our unique microbiome discovery platform and reach several major inflection points, including key milestones for the SGM-1019 clinical program and other therapeutic programs."
In conjunction with the new financing, Elaine Jones, Ph.D., Executive Director of Pfizer Venture Investments, and Carole Nuechterlein, Head of Roche Venture Fund, will join the Second Genome Board of Directors.
"Second Genome has demonstrated early success in accessing the previously overlooked and untapped potential of the microbiome in drug discovery and development," said Dr. Jones. "The company has developed a unique platform and the deep scientific expertise required to create value by mining the microbiome to build a pipeline of novel therapeutics for a broad range of chronic conditions with high unmet medical need."
Second Genome's Microbiome Discovery Platform combines genomics technologies, computational biology, and phenotypic screening to identify novel proteins, peptides, and metabolites from the microbiome that play a causal role in human disease and wellness.
About Second Genome
Second Genome is a privately-held biopharmaceutical company based in South San Francisco, California. Second Genome's mission is to transform lives with medicines developed through innovative microbiome science. Please visit www.secondgenome.com for more information.
Source: Second Genome
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