Suono Bio, Inc., a Foxborough, Mass.-based advancing treatments of gastrointestinal diseases, raised an $8.5m Series A financing.
The round was led by Axil Capital and Mizuho Securities Principal Investment, with participation from Taiwania Capital and other investors. In conjunction with the funding, Frederick Shane, Managing Partner of Axil, who joined the Board of Directors.
The company will utilize the funds to advance its lead programs in inflammatory bowel disease as well as expansion of its pipeline.
Founded by Professor Langer, Professor Giovanni Traverso, from the Department of Mechanical Engineering at MIT and a gastroenterologist and biomedical engineer at Brigham and Women’s Hospital, Harvard Medical School, and Dr. Carl Schoellhammer, and led by Scott Kellogg, CEO, Suono Bio leverages technology developed in the laboratory of Institute Professor Robert Langer at the Massachusetts Institute of Technology (MIT) to facilitate rapid, local administration of therapeutics to treat serious diseases. The company has previously announced strategic investments from FUJIFILM Corporation and NGK Spark Plug Co., LTD.