US-based microbiome medicine developer Second Genome increased its series B round to $51m yesterday, raising $8.4m from SR One, the corporate venturing subsidiary of pharmaceutical company GlaxoSmithKline.
The $42.6m first tranche closed in April this year and included Pfizer Venture Investments and Roche Venture Fund, respective subsidiaries of pharmaceutical firms Pfizer and Roche, and medical researcher Mayo Clinic.
The round’s first tranche also featured Digitalis Ventures, Adveq, LifeForce Capital, MBL Venture Capital, Advanced Technology Ventures, Morgenthaler Ventures, Seraph Group and angel investor Matthew Winkler.
Second Genome is using microbiome science to develop therapeutics to treat inflammatory bowel disease (IBD) and metabolic disease. Its lead drug candidate, a small molecule inhibitor that will treat inflammation and pain in IBD, has completed a phase 1 trial.
The round has boosted Second Genome’s overall funding to about $67m. The company raised $11.5m in series A capital in 2013 from Advanced Technology Ventures, Morgenthaler, Seraph, Wavepoint Ventures, Winkler and its founder, Corey Goodman.
SR One’s investment was announced concurrently with the appointment of Glenn Nedwin as Second Genome’s new chief executive and president. He said: “We are on the cusp of the next paradigm shift in health and medicine.
“I was drawn to Second Genome because its microbiome-derived technology platform and product pipeline have enormous potential to transform medicine, as well as consumer and animal health, agriculture and industrial applications.”
Jill Carroll, a senior associate at SR One, has joined Second Genome’s board of directors in conjunction with its investment.