Novome Biotechnologies Secures $33 Million Series A Financing to Advance Enteric Hyperoxaluria Program

VCBeat (WeChat ID: vcbeat) learned from foreign media that on January 9, 2020, biopharmaceutical company Novome Biotechnologies completed a $33 million Series A financing round. The round was led by DCVC Bio, with participation from 5AM Ventures, Alta Partners, Alexandria Venture Investments, and Mayo Clinic.

Novome Biotechnologies is a San Francisco-based biotechnology company focused on engineering and defining the human gut microbiome to treat chronic diseases. Novome Biotechnologies has developed the first platform for controlling gut colonization using engineered microbes: Genetically Engineered Microbiome Medicines (GEMMs). The Novome Biotechnologies platform, built on pioneering technology from Stanford University, enables the implantation of GEMMs into the gut to achieve sustained and effective therapeutic outcomes.

Novome Biotechnologies’ platform addresses therapeutic areas that are difficult to treat with current methods, enabling dynamic engagement of multiple targets through non-invasive dosing. Novome Biotechnologies is leveraging its GEMMs platform for preclinical research on primary hyperoxaluria, with a focus on developing a degradable oxalate-treating bacterial strain to prevent kidney stone formation.

Novome Biotechnologies has raised a total of $38 million since its establishment in 2016, having completed two previous funding rounds in 2017 and 2018. The proceeds from this round will be used to advance the development of its hyperoxaluria program and expand its Genetically Engineered Microbiome Medicines (GEMMs) platform to address additional indications. Furthermore, Novome Biotechnologies announced the appointment of Blake Wise as Chief Executive Officer. Mr. Wise previously served as CEO of Achaogen, a biopharmaceutical company dedicated to developing antibiotics for serious multidrug-resistant infections.

Will DeLoache, Co-founder and Chief Scientific Officer of Novome Biotechnologies, stated:

“Novome Biotechnologies warmly welcomes Blake to the team. Blake brings a wealth of expertise to Novome, particularly in terms of proven operational experience and an efficient leadership style. Currently, Novome has raised significant funding to advance its hyperoxaluria program, and we are confident that Novome will be able to address more serious chronic diseases related to the gut.”

Blake Wise stated, “It is an honor to join the team at Novome Biotechnologies, which has made significant progress with the support of 5AM Ventures. Novome’s GEMMs platform has established a new class of living medicines that can be introduced into the gut in a controlled manner. Novome warmly welcomes new investors to join forces in advancing platform development and creating best-in-class engineered gut microbial therapeutics.”

DCVC Bio is a venture capital fund based in San Francisco, USA, primarily investing in early-stage computational biology startups. DCVC Bio is highly interested in companies and teams that deliver profound technological impact in synthetic biology, medicine, and agriculture.

Alta Partners, founded in 1996 and headquartered in San Francisco, USA, is a leading venture capital firm in the life sciences sector that has provided funding to more than 130 companies in the industry since its inception.

5AM Ventures, established in 2002 and headquartered in California, USA, is a venture capital firm dedicated to providing funding for seed-stage and early-stage life sciences companies. Its portfolio includes companies in the biopharmaceutical, life sciences, medical technology, and research instruments sectors.

Alexandria Venture Investments, established in 1996 and headquartered in California, USA, is a venture capital firm. Alexandria Venture Investments provides long-term strategic investment capital to innovative life sciences and agri-tech entities developing breakthrough technologies and therapies.

Founded in 1919 and headquartered in Minnesota, United States, the Mayo Clinic is a non-profit healthcare institution. The Mayo Clinic provides a wide range of specialized medical services, including care for diabetes, gastrointestinal disorders, gynecological conditions, cancer, and more.

(Compiled by: Chang Jia)