China-based microbiome therapeutics developer Xbiome has received tens of millions of dollars in a series B-plus round featuring Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, DealStreetAsia reported on Sunday.
Growth equity firm Primavera Capital Group and venture capital firm Gaorong Capital co-led the round, which included VC firm 5Y Capital, Yayi Capital and investment platform Yimei Capital, according to a company statement cited by DealStreetAsia.
Founded in 2017, Xbiome is utilising artificial intelligence to create and develop drugs intended to function through the microbiome: the collection of microbes present in each human body. It will use the cash to advance its product pipeline.
The company had received a total of about $10m across a series A round led by Gaorong Capital (then known as Banyan Capital) and a series A-plus round led by private equity firm Lihe Hongxin and backed by investment firm Yahui Investments, both of which took place in 2018.
Legend Capital led Xbiome’s $14.2m series B round in November 2019, investing with Gaorong Capital, 5Y Capital and Yahui Investment. Its existing backers include Alwin Capital, ZhenFund and Zhuhai Lihe Hongxin Investment Management, according to DealStreetAsia.
