British biotech company Microbiotica has raised €42 million (£36 million) in the first close of its Series C funding round. The company is developing oral medicines that use the human microbiome to help treat diseases.
The funding round was led by the British Business Bank, with participation from Tencent, IP Group, Cambridge Innovation Capital, Flerie Invest and Seventure Partners. All investors who supported Microbiotica’s previous Series B round also took part in the latest funding.
Tim Sharpington, Chief Executive Officer of Microbiotica, says: “This financing marks an important next stage for Microbiotica and reflects the significant progress we have made in translating our powerful genomics-driven microbiome platform into clinical-stage products, alongside developing a scalable and cost-effective manufacturing process. We are thankful for the support received from our investors and are now focused on taking MB310 into Phase 2 clinical development, where we have an opportunity to further establish MB310 as a breakthrough treatment option for people living with ulcerative colitis.”
Founded in 2016, Microbiotica spun out of the Wellcome Sanger Institute. The company has developed a platform that uses genetic research, microbiome samples, data analysis and machine learning to study the microorganisms living in the human body.
By analysing data from clinical trials, the platform can identify bacteria linked to better treatment results in specific groups of patients. This helps Microbiotica discover potential microbiome-based medicines and understand which patients may benefit most from them.
Carmine Circelli, Senior Investment Director, Life Sciences at the British Business Bank, adds: “We believe Microbiotica is emerging as a world leader in the development of microbiome therapeutics. Its Phase 1b study in ulcerative colitis produced statistically significant clinical remission, best in disease potential with no safety issues. This funding allows the Company to move MB310 forward into a Phase 2 trial which, if it confirms the promise seen in Phase 1b, has the potential to be a major breakthrough in the treatment of ulcerative colitis.
“By investing in companies like Microbiotica, we help the UK’s most promising life sciences companies to convert research into treatments while also building the UK’s thriving life sciences market.”
Dr Sam Williams, Venture Partner at IP Group, says: “We have been very impressed by Microbiotica’s progress since we first invested in the Company, from translating pioneering microbiome science from the Wellcome Sanger Institute into a powerful genomics-driven microbiome platform that has generated promising efficacy in two Phase 1b clinical trials. There is an important opportunity to advance Microbiotica’s precision microbiome approach into a larger clinical study, and we are pleased to continue supporting the Company as it enters this next phase of development.”
According to Microbiotica, ulcerative colitis is the most common type of inflammatory bowel disease, affecting up to 5 million people worldwide. Although several treatments are available, many patients struggle to achieve or maintain long-term relief from the disease. This highlights the need for new and more effective treatment options.
