A Scottish biopharmaceutical company has secured $21.5m in Series A financing to help advance its microbiome drug.
EnteroBiotix, based at Strathclyde Business Park, is developing microbial therapeutics that enhance the gut microbiome, with the new money to be used on product development and manufacturing.
The financing was led by Thairm Bio, alongside Kineticos Ventures and existing investors Scottish Enterprise and SIS Ventures.
The company plans to grow its headcount to around 50 as well as expand its analytical capabilities.
Dr James McIlroy, chief executive at EnteroBiotix, said: “This successful financing round is a strong endorsement of our pioneering microbiome approach - it gives significant momentum to our mission to transform the lives of patients through novel orally delivered medicinal products that enhance the gut microbiome.”
The company's product portfolio has potential applications across multiple disease areas.
Frank Lis, president at Kineticos Ventures, added: “At Kineticos Ventures we back ambitious entrepreneurs that are advancing the boundaries of scientific research to improve patient outcomes.
“We were attracted to EnteroBiotix’s innovative approach to reinstating gut microbiome diversity and function as it has global potential in multiple disease areas.”
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