US-headquartered microbiome-based drug developer Vedanta Biosciences has secured $16.6m in series C-2 funding from investors including healthcare services provider Symbiosis, chemicals producer JSR and pharmaceutical firm Bristol-Myers Squibb.
Quad Investment Management, SV Investment Corp, Shinhan Investment-Private Equity, Shinhan Capital-Yeollim Partners, Partners Investment, FC Capital, Bill & Melinda Gates Foundation, Rock Springs Capital, Shumway Capital, Invesco Asset Management and Seventure Partners’ Health for Life fund also invested.
Spun off from pharmaceutical company PureTech Health, Vedanta is developing treatments for immune-mediated diseases that will be fuelled by bacteria from the human microbiome.
The company closed the $27m first tranche of the series C round, which included PureTech, in December 2018 and added $18.5m in May this year. PureTech had previously joined Rock Springs Capital, Health For Life and Invesco Asset Management to invest $50m in Vedanta in 2016.
Bernat Olle, Vedanta’s co-founder and CEO, said: “We welcome the support from both existing and new investors for Vedanta’s expanding activities and maturing portfolio of product candidates based on rationally-defined consortia.”
