Canada-based EnGene, a biotechnology company focused on delivering therapeutics for patients’ intestines, has secured $11.5m in a series B round that included pharmaceutical company Pharmstandard International.
The round also featured Merck Lumira Biosciences Fund, a Québec-focused biotechnology fund set up by pharmaceutical company Merck.
Forbion Capital Partners, a spin-out of Netherlands state-owned bank ABN Amro, led the round, while Lumira Capital, Teralys Capital and Fonds de solidarité FTQ, a development capital fund in Québec, also participated.
Merck Biosciences Fund previously invested $13.3m in a series A extension for EnGene in 2013. EnGene initially raised $6.4m series A funding in 2008 from Saad Investments Company, Masa Life Science Ventures and undisclosed angel investors.
EnGene is developing DNA-based therapeutics that are delivered to the rest of the body via tha intestines. Animal testing has shown the technology to be an effective treatment for autoimmune diseases such as inflammatory bowel disease and type one diabetes.
The company will use the series B funding to advance its lead product, a treatment for ulcerative colitis, into Phase 1 and 2 clinical trials. It will also finalise development of a gene pill that delivers treatments orally.