Microbiome Drug Developer Raises $50m For First-In-Human Studies
PureTech Health business Vedanta Biosciences Inc. – a company developing a new class of therapies designed to modulate the human microbiome – has raised $50m through new equity investments to advance several of its programs into the clinic.
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Events are moving fast in the microbiome field. The sector is expecting results from numerous initial clinical studies during 2018, from across a spectrum of approaches and mechanisms of action, which could lead to new rounds of financings and M&A activity.
During a month when only two biotechnology companies have gone public, private drug developers continue to raise hundreds of millions of dollars in venture capital.
Uwe Schoenbeck, CSO of external science and innovation at Pfizer, knows the company set itself a high bar during the COVID-19 pandemic after rapidly bringing a breakthrough vaccine to market. While the circumstances for the development of Comirnaty were truly unique, Pfizer does not expect to rest on its laurels when it comes to innovative R&D.