EnteroBiotix, a Glasgow, Scotland, UK-based clinical-stage biotechnology company, raised £27M in funding.
The financing, which comprises £15.7m of new equity and the conversion of £11.6m of loan notes into equity came from Thairm Bio and Kineticos Life Sciences, as well as the Scottish National Investment Bank. Existing investors including Scottish Enterprise and many of the company’s private investors also participated.
The company intends to use the funds to advance its lead product candidate, EBX-102-02 through a Phase 2 clinical trial in Irritable Bowel Syndrome in partnership with the Functional Gut Clinic, as well as to progress its pipeline for other conditions linked to a disrupted gut microbiome, including liver cirrhosis and hepatic encephalopathy (‘HE’).
Led by CEO Dr James McIlroy, EnteroBiotix is a clinical-stage biopharmaceutical company developing full-spectrum microbial therapeutics for patients with serious unmet medical needs. The company is leveraging its product platform to address patient needs through a pipeline of tailored high-diversity products that fortify and restore the microbiome.
Commenting on the news, Dr James McIlroy said: “This significant new investment helps enable our vision of transforming the standard of care for patients suffering from serious conditions linked to the gut microbiome. It will help accelerate the development of our innovative product pipeline and propels us towards our goal of bringing these innovative treatments to market. We look forward to working closely with our new partners at the Bank and with our existing investors to bring this vision to fruition, for the benefit of patients across the globe.”
FinSMEs
04/04/2024