England-based Microbiotica has raised $67 million in a series B round to push two microbiome-based lead assets through phase 1b trials, slated to start this year.
The company launched in 2016 to develop bacterial therapies and biomarkers utilizing the human microbiome, which is a source of trillions of microorganisms that exist in the body. The company was founded with GBP 8 million ($10.4 million) in initial funding.
Eighteen months after its launch, the company caught the attention of Genentech, which partnered with Microbiotica to help identify potential biomarkers to be used with Genentech's treatments for inflammatory bowel diseases. The deal was worth up to $534 million, giving Genentech the option to license assets that Microbiotica developed as a result of the research. At the time of the deal, a spokesperson for Genentech told Fierce Biotech it was the company’s first targeting of the human microbiome in the gut.
Since then, Microbiotica has continued to work on two therapies that are slated to launch phase 1b trials later this year: one for immuno-oncology and the other for ulcerative colitis. The former is being developed in collaboration with Cancer Research UK and Cambridge University Hospitals NHS Foundation Trust.
Microbiotica's platform is based on microbiome genomic and sequencing data that allows the company to more easily comb through clinical data sets to identify biomarkers and possible therapeutics. Once identified, bacteria strains can be singled out and further developed.
The series B round was co-led by Swedish life science investor Flerie and Chinese-based Tencent, in addition to bringing aboard British Patient Capital. Additional funds will be used to expand Microbiotica's pipeline.