NEW YORK (GenomeWeb) – Microbiome firms Enterome Bioscience and Second Genome today announced that they each have closed financing rounds worth €14.5 million ($16.5 million) and $42.6 million, respectively.
Paris-based Enterome completed a Series C financing round that it said would provide it with additional financing to develop its pipeline of microbiome-related drugs and diagnostics.
The round was led by existing investors Seventure and Lundbeckfond Ventures, and included new investor Nestlé Health Science. Additional terms of the financing were not disclosed.
The funds will be used to support the advancement of Enterome's inflammatory bowel disease drug EB8018, a small molecule designed to block adherent invasive Escherichia coli in the gut, into initial clinical testing. The financing will also help the company further develop diagnostics in IBD and other microbiome-related disorders.
In late 2014, Enterome formed a partnership with biotech firm AbbVie to create molecular diagnostic tools to monitor the gut microbiome in patients with Crohn's disease and related conditions. Earlier that year, the company announced partnerships with the Mayo Clinic and Synthetic Biologics to develop microbiome-based tests.
Second Genome, meanwhile, finalized a Series B round co-led by Pfizer Venture Investments and Roche Venture Fund. The round also included new investors Digitalis Ventures, Adveq, LifeForce Capital, MBL Venture Capital, and Mayo Clinic, as well as existing investors Advanced Technology Ventures, Morgenthaler Ventures, Seraph Group, and individual investor Matthew Winkler.
Second Genome said the funding would be used to expand its microbiome drug-discovery platform in indications associated with barrier function, insulin sensitivity, and immune regulation. The money will also be used to conduct human proof-of-concept studies of the South San Francisco-based firm's small-molecule treatment for ulcerative colitis-associated pain and inflammation SGM-1019.
About a year ago, Second Genome partnered with the Alimentary Pharmabiotic Centre Microbiome Institute at University College Cork to develop therapies to prevent and treat IBD. The company also has formed alliances with the Mayo Clinic, Pfizer, and Johnson & Johnson's Janssen Biotech.