Prometheus Biosciences, Inc., a San Diego, CA-based biotechnology company, raised $130m in equity financing.
The round was led by Eventide Asset Management and RTW Investments, LP., with participation from new investors Perceptive Advisors, Cormorant Capital, Cowen Healthcare Investments, Point72 Asset Management and Irving Investors, and existing investors Ascend Global Investment Fund, Cedars-Sinai Medical Center and Nestlé SA. In conjunction with the financing, Joy Ghosh, Ph.D. of Eventide Asset Management and Adam Stone of Perceptive Advisors will be joining the Prometheus Board of Directors.
Led by Mark McKenna, President and CEO, Prometheus Biosciences is pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the diagnosis and treatment of inflammatory bowel disease (IBD).
The company’s precision medicine platform, Prometheus 360, combines proprietary bioinformatics discovery methods with a gastrointestinal bioinformatics database to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.
Prometheus is guided by its board of directors, led by Chairman Tachi Yamada, M.D., and a scientific advisory board composed of key opinion leaders in IBD, including Stephan Targan, M.D., William Sandborn, M.D. and Dermot P. McGovern, M.D., Ph.D. In addition, Prometheus has entered into collaborations to develop targeted therapies for IBD.