Saturday, February 24, 2024
HomeFunding Eligo Bioscience Raises $30 Million To Write a Novel Chapter for...

[Funding alert] Eligo Bioscience Raises $30 Million To Write a Novel Chapter for Genetic Medicines

Sanofi Ventures led a $30 million Series B fundraising round for Eligo Bioscience, a gene-editing startup that is focused on treating diseases caused by the expression of bacterial genes from the microbiome.

Sanofi Ventures led a $30 million Series B fundraising round for Eligo Bioscience, a gene-editing startup that is focused on treating diseases caused by the expression of bacterial genes from the microbiome.

Eligo is moving closer to becoming a clinical-stage biotech thanks to this cash infusion, which is supported by current backers Khosla Ventures and Seventure Partners (via its Health For Life CapitalTM fund) as well as new investor Bpifrance. Laia Crespo, Ph.D., a partner at Sanofi Venture, and Benoit Barteau, an investment director at Bpifrance, will join the board of directors concurrently with this transaction.

Read also – [Funding alert] Finexos Secures £690k Seed Funding to Enhance Credit Decisioning

“We are excited to lead this financing for Eligo and support the company as they move to the clinic.” said Laia Crespo, Ph.D., Partner at Sanofi Ventures. “We are impressed by the unique delivery and editing technologies that Eligo has developed, and we believe this will set the stage for Eligo to forge new paths in the application of in vivo gene-editing technologies.”

This funding is earmarked for accelerating the development of Eligo’s flagship program, EB005, which targets moderate to severe acne vulgaris, an inflammatory disease that affects about 3% of the global population. The investment will fuel pre-IND and IND activities to achieve early human data readouts in a Ph1b/2a clinical trial. Additionally, it will facilitate Eligo’s expansion into other chronic diseases, including oncology.

Read also – Madrid-based Electric Mobility Velca Secures €5.3 Million in Series A Round Funding

“We are delighted to welcome additional prominent healthcare investors to our existing syndicate. We feel this reflects the strong support for our vision and confirms the potential of Eligo to create a novel class of transformative genetic medicines.” said Xavier Duportet, PhD, Chief Executive Officer of Eligo Bioscience. “This is a defining time for Eligo as this funding puts us in a strong position to make a significant leap in treating diseases by editing the genetic makeup of the human microbiome.”

Eligo stands at the forefront of a biotechnological revolution. By focusing on the in-vivo delivery of genetic cargoes to the microbiome, Eligo’s technology goes beyond traditional gene therapy and gene editing, expanding the range of addressable genetic targets. Through precise genetic modification within the human microbiome, this unique approach holds the promise of radically altering the course of numerous chronic and life-threatening diseases that are either triggered or driven by the expression of bacterial genes.

Read also – German Startup Unchained Robotics Secures €5.5 Million in Funding

About Eligo Bioscience

As a global leader in microbiome in-vivo gene editing, Eligo Bioscience is developing a highly differentiated pipeline of precision medicines to address unmet medical needs in infectious illnesses, cancer, and immunoinflammation caused by the expression of harmful bacterial genes.

Dr. David Bikard, a professor at Institut Pasteur, Timothy Lu, a professor at MIT and CEO of Senti Biosciences, Luciano Marraffini, a professor at The Rockefeller University and cofounder of Intellia Therapeutics, and Xavier Duportet, an MIT TR35, Young Global Leader, and Termeer Fellow, founded Eligo.

In addition to receiving venture capital funding from Sanofi Ventures, Khosla Ventures, BPI France, and Seventure Partners, Eligo was recognised as a Technology Pioneer by the World Economic Forum.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular