Vedanta Biosciences Raises $27 Million Series C Financing to Advance Clinical Pipeline of Microbiome-Derived Product Candidates ::
Summary
Vedanta Biosciences Raises $27 Million Series C Financing to Advance Clinical Pipeline of Microbiome-Derived Product CandidatesCAMBRIDGE, Mass., Dec. 24, 2018Vedanta Biosciences, a clinical-stage company developing a new category of therapies for immune-mediated diseases based on rationally-defined consortia of human microbiome-derived bacteria, today 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 and Opdivo (nivolumab) in advanced or metastatic cancers, and the recently initiated Phase 2 study of VE303 in recurrent Clostridium difficile infection (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 patients gut microbiota. 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. difficile infection, food allergy, IBD, and several cancer indications.Vedanta Biosciences is a clinical-stage company developing a new category of therapies for immune-mediated diseases based on rationally-defined consortia of human microbiome-derived bacteria. Vedanta Biosciences is a leader in the microbiome field with capabilities and deep expertise to discover, develop, and manufacture live bacteria drugs. These include what is believed to be the largest collection of human microbiome-associated bacterial strains, a suite of proprietary assays to select pharmacologically potent strains, vast proprietary datasets from human interventional studies, and facilities for cGMP-compliant manufacturing of rationally-defined bacterial consortia in powder form.