Microbiome Therapeutics Startup BiomX Secures $32 Million Series B Funding to Advance Acne and Inflammatory Bowel Disease Drug Candidates

VCBeat (WeChat ID: vcbeat) has learned that BiomX, a microbial therapeutics startup, recently completed a $32 million Series B financing round to promote its drugs for the treatment of acne and inflammatory bowel disease (IBD).

This financing round was led by existing investors OrbiMed, Johnson & Johnson Innovation-JJDC, 8vc, Takeda Ventures, Seventure Partners, and the SBI Japan-Israel Innovation Fund, along with new investor RMGP Biopharma Fund, with participation from Chong Kun Dang Pharmaceutical, Handok, KB Investment, and Consensus Business Group. Concurrently, Yaron Breski, Managing Director of RM Global Partners, and Eric de la Fortelle, Partner at Seventure Partners and holder of an MBA and PhD, joined the Board of Directors of BiomX.

BiomX is an Israel-based microbiome drug development company dedicated to developing customized phage therapies for chronic conditions such as acne, inflammatory bowel disease (IBD), and cancer. In May 2017, BiomX raised $24 million in its Series A financing round, and in January 2018, it received approval from Keio University School of Medicine for IBD drug development.

In the United States, approximately 1.6 million Americans are affected by inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. Currently available medications for these conditions can only alleviate symptoms and cannot provide a complete cure. Acne, moreover, has become one of the most common dermatological conditions in the U.S., affecting up to 50 million people nationwide. Statistics show that in 2018, the market for acne and IBD treatments in the United States and select European Union countries exceeded $10 billion.

BiomX has targeted the market by developing BX001, a treatment for acne, and BX002, a therapy for inflammatory bowel disease (IBD). BX001 is a topical gel composed of natural phages that modulate Cutibacterium acnes without affecting the growth of beneficial skin bacteria. BX002 is a phage cocktail developed for IBD that prevents the emergence of resistant strains at their source, significantly reducing the likelihood of disease occurrence.

BiomX CEO Jonathan Solomon stated, “This round of financing will enable us to transition from a purely biopharmaceutical R&D company into a clinical-stage company, further advancing our novel phage therapies for acne and inflammatory bowel disease (IBD) into clinical trials. As a next step, we will also develop therapeutics targeting liver diseases and colorectal cancer.”

Rob Woodman, Senior Partner at Takeda Ventures, stated, “Phage therapeutics and microbiology are garnering increasing attention, and we hope that BiomX, a leader in these two fields, will deliver breakthrough trial results.”

In the coming months, BiomX will primarily promote BX001, a drug for the treatment of acne. The company plans to submit an Investigational New Drug (IND) application for BX002 to the U.S. FDA in 2019, and to initiate clinical trials for inflammatory bowel disease (IBD) by the end of 2020.

OrbiMed, founded in 1989, is a major investment firm. Its investment portfolio spans biopharmaceuticals, life sciences, medical devices, healthcare services, and diagnostics, with investments covering stages from early-stage startups and growth phases to mature companies and post-IPO entities. The firm manages approximately $13 billion in assets.

Johnson & Johnson Innovation – JJDC is the venture capital arm of Johnson & Johnson.

8vc is a venture capital firm based in New York, USA, and has participated in 105 investments to date.

Takeda Ventures is the corporate venture capital arm of Takeda Pharmaceutical Company (TPC). Takeda aims to support innovative development in the biopharmaceutical industry through early-stage capital investments and by providing resources to multinational pharmaceutical companies. The company is headquartered in California, USA.

Seventure Partners, established in 1997, is one of the leading venture capital firms in Europe, dedicated to investments in digital technologies and life sciences, with over €660 million in assets under management.

SBI Japan-Israel Innovation Fund is a venture capital firm headquartered in Israel, focusing on the biopharmaceutical sector.

RMGP Biopharma Fund is a U.S.-headquartered venture capital firm dedicated to investments in biopharmaceuticals, immuno-oncology, neurological disorders, and biotechnology.

Chong Kun Dang Pharmaceutical is a South Korean biopharmaceutical company established in 1956, primarily manufacturing prescription drugs for hypertension, diabetes, and cancer. The company also exports its products to the United States.

Handok is a biopharmaceutical company headquartered in Seoul, South Korea.

KB Investment, established in 1990, is one of South Korea’s leading venture capital and private equity fund investment firms, with assets under management exceeding $1.4 billion.

(Compiled by: Feng Yutong)