Once deemed an intimidating and risky space, microbiome modulator firms are slowly winning over investors as robust clinical data surface, with one company, Microbiotica, recently hitting an EU financing record.

Microbiome modulators, known mainly for development in infectious and gastrointestinal diseases, could prove an asset in oncology thanks to the work of biotechs.

Public Company Edition: It has been almost a month since a biopharma firm launched an IPO in the US, but special purpose acquisition corporations continue to take drug makers public, including Alvotech and Aerami. Outside the US, MaaT closed an IPO in Paris and BeiGene priced a Shanghai offering.

In this installment of our VC Playbook series, In Vivo sits down with Isabelle de Cremoux, CEO of Seventure. The company has been a pioneer investor in the microbiome space, which Cremoux believes has now reached a turning point.