BiomX, a company focused on developing customized phage therapies, secured $32 million in series B equity financing to help it develop new treatments for several conditions, including inflammatory bowel disease.
Jonathan Solomon, CEO of BiomX, said in a press release that the funding will help the company move toward clinical trials for an acne treatment in 2019 and their IBD therapy in 2020.
“The new funding will enable us to transition BiomX to a clinical stage company as our lead programs in acne and IBD, both novel phage therapeutics targeting harmful bacteria in the microbiome, enter the clinic,” he said in the release.
The company’s work focuses on developing phage therapy that target bacteria in chronic diseases like IBD. The company will also continue its work in developing treatments for liver disease and colorectal cancer.
The financing included funding from existing investors, OrbiMed, Johnson & Johnson Innovation – JJDC Inc., Takeda Ventures Inc., 8VC, MiraeAsset, Seventure Partners’ Health for Life Capital I, SBI Japan-Israel Innovation Fund, as well as new investors, RM Global Partners (RMGP) BioPharma Investment Fund, with participation from Chong Kun Dang Pharmaceutical Corp., Handok Inc., KB Investment Co. Ltd. and Consensus Business Group.
Disclosures: Solomon is employed by BiomX.