Vedanta Biosciences secures $27m to advance microbiome-derived drugs appeared first on PharmaNewsDaily.com.

" /> Vedanta Biosciences secures $27m to advance microbiome-derived drugs - Business News Today
Published On: Tue, Dec 25th, 2018

Vedanta Biosciences secures $27m to advance microbiome-derived drugs

US clinical stage company Vedanta Biosciences has raised $27 million in a Series C financing round to help it advance its pipeline of microbiome-derived product candidates.

Bill & Melinda Gates Foundation, Bristol-Myers Squibb, Rock Springs Capital, Invesco Asset Management, , and the company’s founder PureTech took part in the new investment round.

Vedanta Biosciences will use the proceeds from the Series C financing for the funding of a phase 1/2 trial of VE416 in food allergy, a phase 1b/2 trial of VE800 and Opdivo (nivolumab) in advanced or metastatic , and the recently launched phase 2 trial of VE303 in recurrent Clostridium difficile infection (rCDI).

Bernat Olle – Co-founder and CEO of Vedanta Biosciences said: “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.

“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. difficile infection, food allergy, IBD, and several cancer indications.”

Vedanta Biosciences raises $27m to advance microbiome-derived drugs
Vedanta Biosciences raises $27m to advance microbiome-derived drugs. Photo courtesy of
Daino_16/Freeimages.com.

Earlier this month, Vedanta Biosciences entered into a clinical trial collaboration with Bristol-Myers Squibb to evaluate the latter’s programmed death-1 (PD-1) immune checkpoint inhibitor Opdivo (nivolumab) in combination with the former’s VE800 in patients with advanced or metastatic cancers.

In late November, Vedanta Biosciences launched a phase 1 clinical trial for VE202, its orally-administered, live biotherapeutic product (LBP) candidate for inflammatory bowel disease (IBD) in healthy volunteers.

The early-stage trial is being carried out by Janssen Research & Development. In conjunction with the launch of the phase 1 study, Vedanta Biosciences will be paid $12 million from Janssen in the form of milestone payments as part of an existing collaboration that has development and commercialization milestone payments of up to $339 million along with royalty payments.

Related posts

The post Vedanta Biosciences secures $27m to advance microbiome-derived drugs appeared first on PharmaNewsDaily.com.

No tags for this post.