EnteroBiotix raises more than $21M in Series A
Originally published in Endpoint News
Scottish biopharma Enterobiotix today announced the closing of its $21.5 million Series A financing. The proceeds will be used to further advance the company’s microbiome drug pipeline and support its product development and manufacturing capabilities.
One of the products that the company is working on is a pill to replace a procedure called fecal microbiota transplant, or FMT. EnteroBiotix has prided itself on complete in-house manufacturing — a crucial step in controlling the supply chain in order to make a consistent pill possible. Additionally, part of the funding raised by the Series A will fund developing analytical tools to characterize what’s really in their product.
“I think, fundamentally, the approach EnteroBiotix is taking is that we’re not taking a reductionist approach to the ecosystem,” CEO James McEllroy said about the potential FMT pill. “We’re actually combining ecosystems together to create a highly diverse product that retains both the spore-forming fraction of the microbiome and the non-spore-forming fraction of the microbiome. The setbacks that have happened to date have taken reductionist approaches and have destroyed parts of the ecosystem whereas what we want to do is retain the diversity, which we hope will be functional diversity, and create something which is compositionally consistent at the same time.”
The financing was led by Scottish investment firm Thairm Bio and includes new US-based investor Kineticos Ventures, joining other investors including Scottish Enterprise and SIS Ventures. — Paul Schloesser
