Healthcare Industry News: HSMN NewsFeed
News Release - September 7, 2021
EnteroBiotix Raises over $21m in Series A Financing to Advance its Microbiome Drug PipelineGLASGOW, Scotland, Sept. 7, 2021 -- (Healthcare Sales & Marketing Network) -- EnteroBiotix, a biopharmaceutical company developing novel high-diversity microbial therapeutics that enhance the gut microbiome and target multiple indications, today announced the final closing of its oversubscribed USD $21.5 million (UK £15.5m) Series A financing. The proceeds will be used to further advance the company's microbiome drug pipeline and underpin its product development and manufacturing capabilities.
The financing was led by Thairm Bio (Thairm) and includes new US-based investor Kineticos Ventures, joining existing investors including Scottish Enterprise and SIS Ventures.
Dr James McIlroy, CEO at EnteroBiotix, said: "This successful financing round is a strong endorsement of our pioneering microbiome approach. It gives significant momentum to our mission to transform the lives of patients through novel orally delivered medicinal products that enhance the gut microbiome. We are determined to change the standard of care for patients battling debilitating diseases associated with the microbiome."
Mark R. Bamforth at Thairm, said: "We are delighted to extend our backing of EnteroBiotix's exciting microbiome-based portfolio. We believe that its innovative approach, including end-to-end control of its supply chain to support clinical trials, could provide significant benefits across a range of diseases."
Frank Lis, President at Kineticos Ventures, said: "At Kineticos Ventures we back ambitious entrepreneurs that are advancing the boundaries of scientific research to improve patient outcomes. We were attracted to EnteroBiotix's innovative approach to reinstating gut microbiome diversity and function as it has global potential in multiple disease areas."
The Company's approach is focused on addressing diseases by enhancing the diversity of the microbiome for a healthier life. Its product portfolio has potential applicability across multiple disease areas. In addition to advancing its product pipeline, the Company plans to grow its headcount to around 50 as well as expand its leading GMP manufacturing and analytical capabilities.
The Company also has an operation called 'Number 2' (https://number2.org/) which is dedicated to the collection and extensive quality control testing of donated intestinal microbiome material to ensure it meets the high safety and quality standards needed to produce next-generation microbiome therapeutics.
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