Enterome, a France-based developer of treatments for gut microbiome-associated conditions, secured €32m ($38.5m) in series D funding yesterday from investors including pharmaceutical firms Bristol Myers-Squibb and Lundbeck.
The round also featured food producer Nestlé’s Health Science unit, as well as Seventure, Health for Life Capital, Omnes Capital and Principia. Lundbeck invested through its corporate venturing division, Lundbeckfonden Ventures.
Founded in 2012, Enterome is creating therapies for gut microbiome-associated conditions such as inflammatory bowel diseases and immuno-oncology indications. The technology is based on research at French National Institute of Agronomic Research.
The money will allow Enterome to advance a phase 2 clinical study of EB8018, a treatment for a type of inflammatory bowel disease known as Crohn’s disease, and a phase 1b study for EO2315, a therapy aimed at aggressive brain cancer.
The company will also develop the next generation of its drug discovery platform. The equity funding has been supported by a $48.2m loan supplied by the European Union-owned European Investment Bank.
Enterome has raised approxinately $77m in funding according to its website, most recently closing a $16.3m series C round in 2016 that featured Lundbeckfonden Ventures, Nestlé Health Science and Seventure Partners.
Lundbeckfonden Ventures and Seventure had already co-led Enterome’s $13.9m series B round in 2014, investing alongside Omnes Capital.
The company secured $6.6m in a 2012 series A round co-led by Lundbeckfonden and Seventure. A later release indicated biotech firm Shire and food producer Danone had invested in the 2012 round, though Danone is no longer listed as a backer on Enterome’s website.
Seventure and Inra Transfer, the tech transfer arm of Inra, had supplied $1.8m in seed capital for the company at an unspecified earlier date.