US-based chronic disease medicine developer Novome Biotechnologies has received $33m in a series A round backed by medical research and care provider Mayo Clinic.
The round was led by DCVC Bio, a biotech-focused fund run by venture capital firm Data Collective, and included Alexandria Venture Investments, part of life sciences real estate investment trust Alexandria Real Estate Equities, in addition to VC firms Alta Partners and 5AM Partners.
Founded in 2016, Novome is working on chronic disease therapies using genetically-engineered bacteria based on research from Stanford University and University of California, Berkeley.
The company’s lead program targets hyperoxaluria, a metabolic disorder where acute and recurrent kidney stones caused by excessive oxalate in urine can potentially cause kidney failure.
Novome hopes to dissipate the oxalate by populating the gut with therapeutic bacteria, administering a prebiotic called polysaccharide to help them endure the acidic gastrointestinal environment.
The series A cash will support phase 1 proof-of-concept studies for the program while also adapting Novome’s underlying synthetic biology technology, Gemma, as a basis for treating other chronic diseases.
Kiersten Stead, managing partner at DCVC Bio, has joined the company’s board of directors along with 5AM Ventures managing partner Andrew Schwab. It has also recruited Blake Wise, former chief executive of drug-resistant infection therapy developer Achaogen, as its new CEO.
The company emerged out of research led by scientific co-founder Justin Sonnenburg, an associate professor in Stanford’s microbiology and immunology department.
5AM Ventures was the only participant in the series A round described as an existing investor in Novome, which raised approximately $540,000 in equity financing in 2017, according to a regulatory filing.