Israel-based drug developer BiomX secured $32m on Wednesday in a series B round co-led by Johnson & Johnson Innovation – JJDC and Takeda Ventures, subsidiaries of pharmaceutical firms Johnson & Johnson and Takeda.
SBI Japan-Israel Innovation Fund, a vehicle backed by financial services provider SBI Group, also co-led the round, along with financial services group Mirae Asset, healthcare investment firm OrbiMed and VC firms Seventure Partners and 8VC.
The round included pharmaceutical companies Chong Kun Dang and Handok, Consensus Business Group, KB Investment and RM Global Partners BioPharma Investment Fund, a vehicle owned by investment bank RM Global.
BiomX is developing therapeutics intended to destroy harmful bacteria that make up part of microbiome-related diseases which are caused by imbalances in bacteria located in the human body.
Jonathan Solomon, BiomXs CEO, said: “The new funding will enable us to transition BiomX to a clinical stage company as our lead programs in acne and IBD, both novel phage therapeutics targeting harmful bacteria in the microbiome, enter the clinic. The acne program is expected to begin clinical trials by year-end, followed by our IBD program next year.
“In addition, we will continue to drive our liver disease and colorectal cancer programs forward by identifying key bacteria driving these diseases and developing unique phage cocktails against them.”
Yaron Breski, managing director of RM Global Partners, will join BiomX’s board of directors in conjunction with the round, as will Seventure venture partner Eric de la Fortelle.
BiomX emerged from FutuRx, the Israel-based incubator run by Johnson & Johnson Innovation – JJDC, Takeda Ventures and OrbiMed subsidiary OrbiMed Israel Partners, and raised $24m in its 2017 series A round.
OrbiMed and Johnson & Johnson – JJDC and Takeda Ventures co-led the series A, which also featured Seventure Partners, MiraeAsset and SBI Japan-Israel Innovation Fund.