NEW YORK (GenomeWeb) – Startup microbiome-based technology firm Enterome said today that it raised €10 million ($13.9 million) in the first tranche of a Series B financing round.
The Paris-based company said that the funding will be used to conduct R&D and business activities. Its technology platform, called the Metagenotyping system, is for developing new tools, such as biomarkers and companion diagnostics, for managing diseases. Eventually, the platform will be used for developing therapeutics for inflammatory bowel and metabolic disorders.
The Metagenotyping technology has been used to develop biomarkers for predicting how patients will respond to certain treatments and to monitor disease activity, and as potential companion diagnostics, Enterome said.
"With these new funds, we will be able to make further significant progress toward our goal of developing new disease management solutions that will provide important benefits to patients suffering from conditions where [the] gut microbiome plays a key role," Enterome CEO Pierre Belichard said in a statement.
The funding was led by Enterome's existing investors Seventure and Lundbeckfond Ventures. Omnes Capital also participated in the tranche. Enterome has raised a total of €17.5 million since its founding in 2012, it said. In March 2012, it said that it raised €5 million in a Series A round of private financing.