EnteroBiotix, a biopharmaceutical startup based in Glasgow, has raised $21 million in series A funding to expand its microbiome drug pipeline.
The oversubscribed funding round was led by Thairm Bio (Thairm) and counted with participation from Kineticos Ventures, as well as existing investors like Scottish Enterprise and SIS Ventures. The investments bring the total funding raised by the startup to about $45 million since being founded in 2017. President at Kineticos Ventures, referred to the firm’s participation by stating:
“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 startup was founded with the aim to address diseases via the enhancing of patients’ microbiomes, leading to a healthier life and decreasing the prevalence of diseases in multiple areas. The startup launched an operation by the name of “number 2” to collect and quality control test intestinal microbiomes donated by patients to improve the quality standards of the next generation of microbiome therapeutics. Dr. James McIlroy, CEO at EnteroBiotix, said about the effect of the last round on this mission::
“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.”
The biopharmaceutical startup will use the new funds to boost its product development and manufacturing capabilities, advance its microbiome drug pipeline, and expand its team with about 50 new members to improve its operations. EnteroBiotix expects these efforts will allow it to expands its market presence, providing millions of patients with a new way to improve their health by preventing diseases.