Pragma Bio Secures $10M From The Venture Collective, Merck Global Health Innovation Fund, Viking Global, and CJ Investments To Expand Its Proprietary Technology Platform To Discover Novel Medicines
Summary
Pragma Bio developed a first-of-its-kind-map of chemicals designed by nature, housed in humans, and linked to immune-related health outcomesSouth San Francisco, CA - March 23, 2023 - Pragma Bio, the technology-enabled platform for drug discovery formerly known as VastBiome, announced it has raised an additional $10 million in equity to continue its development of proprietary methods in genomic sequencing, artificial intelligence and synthetic biology to discover biomarkers and novel therapeutics to treat immunologic disorders.The Venture Collective, led the round joined by investors Viking Global Investors, Merck Global Health Innovation Fund and CJ Investments (Korean-based strategic investor). The round brings the companys total venture backing to $15 million.Pragma Bio is utilizing patient data to explore the synergistic bond between natures chemistry found in the human body and the immune system with the goal of discovering novel medicines. Biologically significant microbial genes are subsequently manipulated and transferred to the laboratory, utilizing state-of-the-art technology to produce and manifest a collection of enzymes and natural chemistries. We are excited to work with the outstanding team at Pragma to bridge the gap between natural products and rationally designed therapeutics in order to improve the lives of patients everywhere. We believe that there is strong potential in understanding the impact of natural products on the human immune system which may lead to significant discoveries to advance medicine.The name Pragma Bio encapsulates the companys mission holistically.