NESS ZIONA, Israel, Feb. 20, 2019 /PRNewswire/ -- BiomX Ltd., a microbiome company developing customized phage therapies, today announced the closing of a $32 million series B equity financing. The financing was led by 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 and additional European investors and included new investors led by 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. Proceeds from the financing will be used primarily to advance the Company's leading drug candidates for the treatment of acne and Inflammatory Bowel Disease (IBD) to the clinic.
"We greatly appreciate the continued support of our existing investors as well as their guidance and assistance and are excited to welcome the new group of investors, led by RM Global Partners," said Jonathan Solomon, CEO of BiomX. "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. The acne program is expected to begin clinical trials by year-end, followed by our IBD program next year. In addition, we will continue to drive our liver disease and colorectal cancer programs forward by identifying key bacteria driving these diseases and developing unique phage cocktails against them."
In conjunction with the investment, Yaron Breski, Managing Director at RM Global Partners, and Eric de la Fortelle, Ph.D., MBA, Venture Partner at Seventure Partners, join BiomX's Board of Directors.
"Both phage therapeutics and the microbiome are receiving increased attention and enthusiasm, and BiomX is at the forefront of both fields," said Rob Woodman, Ph.D., Senior Partner at Takeda Ventures, Inc. "We are very excited to continue our support and involvement as BiomX brings its breakthrough science and research into the clinic."
BiomX is a microbiome drug discovery company developing customized phage therapies that target and destroy harmful bacteria in chronic diseases such as inflammatory bowel disease (IBD) and cancer. We discover and validate proprietary bacterial targets and customize our natural and engineered phage compositions against these targets. www.biomx.com
Shai Biran, Ph.D.
Direct: +1 781-235-3060
SOURCE Biomx Ltd.