UK biopharma Microbiotica raises €42 million for inflammatory bowel disease treatment
Microbiotica, a British developer of microbiome medicines, has announced the first close of a €42 million Series C financing. The round was led by British Business Bank.
Microbiotica, a British clinical-stage biopharma company, has announced the first close of a €42 million (£36 million) Series C financing. A Series C is a later-stage investment round in which a company raises capital for further growth. The news is tied to a new treatment approach for inflammatory bowel disease, and it shows that microbiome medicine continues to draw investors.
About Microbiotica
The company is developing a pipeline of orally dosed, precision microbiome medicines. Being clinical-stage means its programmes have reached the point of testing in clinical studies.
Who invested
British Business Bank led the round. Tencent, IP Group, Cambridge Innovation Capital, Flerie Invest and Seventure Partners also took part. According to the announcement, all of the company's existing Series B investors participated as well.
The amount is described as a first close, meaning it represents the initial portion of the financing round according to the source. The excerpt gives no further detail on how the funds will be used.