Vedanta Biosciences raises 27 million dollar to advance clinical pipeline of microbiome-derived product candidates
- by Team ABLE - 28 Dec, 2018
Vedanta Biosciences, a US-based clinical-stage company developing a new category of therapies for immune-mediated diseases based on rationally-defined consortia of human microbiome-derived bacteria, has announced that it has raised $27 million in a Series C financing with participation from new and existing strategic and institutional investors, including the Bill & Melinda Gates Foundation, Bristol-Myers Squibb, Rock Springs Capital, Invesco Asset Management, Seventure Partners, and PureTech Health.
Proceeds from the financing will be used to advance Vedanta Biosciences’ pipeline of microbiome-derived product candidates, including a Phase 1/2 study of VE416 in food allergy, a Phase 1b/2 study of VE800 andOpdivo(nivolumab) in advanced or metastatic cancers, and the recently initiated Phase 2 study of VE303 in recurrentClostridium difficileinfection (rCDI).
Unlike single strain or microbiome-derived metabolite approaches to microbiome modulation, Vedanta Biosciences is developing consortia of bacterial strains designed to effect robust and durable therapeutic changes in a patient's gut microbiota. In contrast to fecal transplants or administration of fecal fractions, Vedanta Biosciences' consortia are defined compositions of bacteria manufactured from pure, clonal cell banks, bypassing the need to rely on direct sourcing of fecal donor material of inconsistent composition.
“We are pleased to have the support of our new and existing investors as we continue to build on our leadership position in the microbiome field,” said BernatOlle, Ph.D., Co-founder and Chief Executive Officer of Vedanta Biosciences. “We have demonstrated that rationally-defined bacterial consortia as a new drug modality can be safe, well-tolerated, and have favorable pharmacokinetics and pharmacodynamics in humans. These new funds, together with our partnerships with Janssen and Bristol-Myers Squibb, will help us advance four programs to clinical endpoints in recurrent C.difficileinfection, food allergy, IBD, and several cancer indications.”
Participants in the fund include the Bill & Melinda Gates Foundation, Bristol-Myers Squibb, Rock Springs Capital, Invesco Asset Management, Seventure, and PureTech Health