EnteroBiotix Completes £27m Financing Round to Advance Clinical Trials, Initiates Phase 2 Study of EBX-102-02 in Patients with Irritable Bowl Syndrome
April 4th 2024 – EnteroBiotix Limited, a clinical-stage biotechnology company developing cutting-edge microbiome therapeutics, today announced the completion of a £27 million ($34 million USD) funding round, supported by new and existing investors. This financing will advance the company’s lead product candidate, EBX-102-02, through a Phase 2 clinical trial for Irritable Bowel Syndrome (IBS) in partnership with the Functional Gut Clinic, and will also progress its pipeline for other conditions linked to a disrupted gut microbiome, including liver cirrhosis and hepatic encephalopathy (HE).
The financing consists of £15.7 million in new equity and the conversion of £11.6 million of loan notes into equity. Key investors include experienced US-based life science investors Thairm Bio and Kineticos Life Sciences, along with the Scottish National Investment Bank. Existing investors such as Scottish Enterprise and several private investors also participated.
Dr. James McIlroy, CEO of EnteroBiotix, commented, “This significant new investment helps enable our vision of transforming the standard of care for patients suffering from serious conditions linked to the gut microbiome. It will help accelerate the development of our innovative product pipeline and propels us towards our goal of bringing these innovative treatments to market. We look forward to working closely with our new partners at the Bank and with our existing investors to bring this vision to fruition, for the benefit of patients across the globe.”
This founding round follows the announcement that EnteroBiotix has initiated the Phase 2 study, named ‘TrIuMPH’ (treating IBS with an intestinal microbiota product for health). The trial will enroll 60 patients with IBS and constipation across sites in the United Kingdom. The primary objective is to assess the safety and tolerability of EBX-102-02, with secondary and exploratory endpoints evaluating preliminary signals of efficacy and potential biomarkers over a six-week period. The trial is being conducted in partnership with the Functional Gut Clinic, a leading center for IBS diagnosis and treatment. EBX-102-02 utilizes EnteroBiotix’s proprietary AMPLA™ technology and is manufactured at its GMP-certified facilities in Scotland.
EBX-102-02 is a next-generation, full-spectrum drug candidate containing highly diverse microbial ecosystems and key functional groups that restore and fortify the microbiome. It is presented as an easy-to-take capsule containing odorless, off-white powder.
Dr. McIlroy added, “We are excited to have achieved this important milestone in our quest to alleviate the suffering caused by IBS. We believe that EBX-102-02 has the potential to be transformational for the IBS patient community and for the field of microbiome therapeutics. We look forward to working in collaboration with our partners to take us closer to realizing our vision of tackling unmet clinical needs with best-in-class full-spectrum microbiome medicines.”
About EnteroBiotix
EnteroBiotix is a clinical-stage biopharmaceutical company developing best-in-class full-spectrum microbial therapeutics for patients with serious unmet medical needs. The Company is leveraging its product platform to address patient needs through a pipeline of tailored high-diversity products that fortify and restore the microbiome.
EnteroBiotix has a strategic partnership with Imperial College London to enable clinical trials in high-unmet need clinical indications and recently announced the initiation of a Phase 2 clinical trial in IBS. The Company has completed patient enrolment in a Phase 2 clinical study in liver cirrhosis.
EnteroBiotix has differentiated platform manufacturing technologies and a well-developed analytical toolkit that confers superior product characteristics. The Company operates sophisticated MHRA licensed manufacturing infrastructure, together with its Number 2® brand, which ensures the safety, security, quality, and sufficiency of supply of microbiota obtained from healthy human donors.
Established in 2017, EnteroBiotix is headquartered in Glasgow, Scotland, and operates research laboratories and MHRA licensed GMP pharmaceutical manufacturing sites in Glasgow and Aberdeen. The Company has now raised over £47m from investors, including Thairm Bio, Kineticos Life Sciences, the Scottish National Investment Bank and Scottish Enterprise Growth Equity.