GLASGOW, Scotland – 4 April 2024. EnteroBiotix Limited, a clinical-stage biotechnology company focussed on developing best-in-class full-spectrum microbiome therapeutics, today announced that the Company has completed its £27m ($34m USD) funding round, supported by new and existing investors. The funding will be used to advance EBX’s lead product candidate, EBX-102-02 through a Phase 2 clinical trial in Irritable Bowel Syndrome (‘IBS’) in partnership with the Functional Gut Clinic, as well as to progress its pipeline for other conditions linked to a disrupted gut microbiome, including liver cirrhosis and hepatic encephalopathy (‘HE’).
The financing, which comprises £15.7m of new equity and the conversion of £11.6m of loan notes into equity comes from experienced US-based life science investors Thairm Bio and Kineticos Life Sciences, as well as the Scottish National Investment Bank (‘the Bank’). Existing investors including Scottish Enterprise and many of the Company’s private investors also participated.
Dr James McIlroy, CEO of EnteroBiotix, said: “This significant new investment helps enable our vision of transforming the standard of care for patients suffering from serious conditions linked to the gut microbiome. It will help accelerate the development of our innovative product pipeline and propels us towards our goal of bringing these innovative treatments to market. We look forward to working closely with our new partners at the Bank and with our existing investors to bring this vision to fruition, for the benefit of patients across the globe.”
