Internet group Tencent co-led a £50m ($66.6m) series B round for UK-headquartered microbiome-based therapeutics developer Microbiotica yesterday with life sciences investment firm Flerie.
British Patient Capital, Cambridge Innovation Capital, IP Group and Seventure Partners also participated in the round, together with Cambridge Innovation Capital, the investment fund backed by University of Cambridge.
Spun out of genomics research institute Wellcome Sanger Institute in 2016, Microbiotica is developing drugs based on research isolating gut bacteria, in order to fight diseases including cancer and neurological, metabolic and autoimmune disorders.
The company will use the proceeds to advance its two lead oral live bacterial therapeutics candidates, which respectively target cancers and ulcerative colitis, into phase 1b clinical studies, as well as expanding its product pipeline.
Cambridge Innovation Capital provided $10m in funding for Microbiotica in 2016 alongside IP Group in 2016, with each investor contributing half. Two years later, Seventure Partners added $5.2m.
Microbiotica chief executive Mike Romanos said: “This major fundraise is a substantial validation of both our team and our world-leading technology. We are fortunate to have the support from new and current investors who have recognised the importance of the microbiome’s therapeutic potential and Microbiotica’s unique capabilities.
“With this additional investment, we will be able to conduct clinical trials with our lead products in immuno-oncology and ulcerative colitis. We will also expand our portfolio of microbiome-based products which have the potential to benefit patients globally.”
