Scioto Biosciences, an Indianapolis, IN-based preclinical stage company, closed a strategic investment of up to $26.5M from Genome & Company and other investors to join in an upcoming tranche.
The deal gives Genome & Company, a microbiome company with headquarters in South Korea, a majority stake in Scioto and expands its presence into the US. Both companies have agreed to multilaterally cooperate on the research of new drug candidates.
The funding will continue to support clinical development of Scioto’s lead drug candidate, SB-121, which targets disorders related to the gut-brain axis like Autism Spectrum Disorder (ASD) as well as disorders related to gut-injury such as Necrotizing Enterocolitis (NEC) which affects premature infants. SB-121 is built on Scioto Biosciences’ proprietary ABT (Activated Bacterial Therapeutics) Platform.
Led by Joe Trebley, CEO, Scioto Biosciences is primarily focused on developing new drugs targeting brain and bowel diseases, and has taken an exclusive global license of the ABT Platform which was invented by researchers at the Abigail Wexner Research Institute (AWRI) at the Nationwide Children’s Hospital in Columbus, Ohio. Through the deal, Genome & Company is adding a new clinical-stage drug candidate, SB-121, to its pipeline which will follow its leading clinical candidate GEN-001 (immune-oncology) which is currently undergoing clinical trials simultaneously in the US and Korea. Through Scioto Biosciences, Genome & Company expands its global presence, now including the US which will also support the company as a discovery center and facilitating communication with regulatory agencies such as the FDA for clinical studies.
FinSMEs
12/08/2020