Siolta Therapeutics, a San Carlos, Calif.-based clinical-stage biotech company, raised $30M in series B funding.
backers included series A investors Khosla Ventures and Marc Benioff as well as new investors Seventure (Health for Life Capital Fund), SymBiosis, and Global Brain (Kirin Health Innovation Fund/GB-VII).
The company intends to use the funds for the clinical development of its lead product, STMC-103H. The capital will go towards supporting clinical proof of concept (POC) trials testing the efficacy of their lead LBP product.
Led by Nikole E. Kimes, PhD, CEO and Co-founder, Siolta provides a live biotherapeutic product (LBP) platform designed to develop microbiome-based medicines and diagnostics for the prevention and treatment of chronic diseases in targeted populations. The lead program, focused on alleviating allergic diseases, aims to stop asthma before it starts through the disruption of the atopic march.
The funding follows the expansion of its executive team with the addition of:
- John Martin, PhD and former CEO/Chairman of Gilead, as an executive advisor; and
- Rich Shames, MD, an experienced drug developer and successful clinical scientist, as Siolta’s Chief Medical Officer.
Siolta has also received the Fast Track designation from the U.S. Food and Drug Administration (FDA) for their lead prevention program and completed a Phase 1b “first in human” safety trial in adults, adolescents and children, recently scaling its manufacturing to support phase 2 studies.