U.S. biotech firm Novome Biotechnologies, Inc., has closed a $43.5 million collection B financing spherical.
The financing was led by Tencent, and contains new traders College of Minnesota, Navian Investments, Colorcon Ventures and Landing Ventures. Present traders DCVC Bio, 5AM Ventures, Alta Companions and Alexandria Enterprise Investments additionally participated.
The proceeds can be used to advance each Novome’s medical hyperoxaluria candidate, NOV-001, via an ongoing section 2a medical trial, and a number of genetically engineered microbial medicines (GEMMs) candidates for the potential remedy of inflammatory bowel illness (IBD). Candidates are both absolutely owned by Novome or a part of a beforehand introduced collaboration with Genentech.
“Our workforce has made great progress this yr, together with initiation of the section 2a portion of the enteric hyperoxaluria medical trial of NOV-001 and advancing our platform capabilities, most notably growing the power for our oral GEMMs to ship excessive quantities of therapeutic proteins to the gastrointestinal tract via steady, managed secretion,” mentioned Blake Smart, CEO of Novome.
“Novome’s latest accomplishments and this new funding ought to additional advance and validate our platform’s capabilities and unlock further pipeline alternatives. I’m grateful for the robust assist of latest and present traders who share our imaginative and prescient of growing first-in-class therapeutically engineered intestine microbes.”
Part 2a medical trial
The continued section 2a medical trial is the second stage of the NOV-001 section 1/2a program. Outcomes from the section 1 stage have been reported late final yr and demonstrated the power to soundly colonize the human intestine with a therapeutically engineered microbe and management its abundance through once-daily dosing of a prebiotic management molecule.
The section 2a stage of the medical trial will research the protection, tolerability and early efficacy of NOV-001 in sufferers with enteric hyperoxaluria.
Genetically engineered microbial medicines (GEMMs) are Novome’s proprietary commensal bacterial strains designed to colonize the intestine at a controllable abundance and categorical therapeutic transgenes and/or proteins at clinically significant ranges. Colonization is maintained utilizing a each day oral dose of a prebiotic polysaccharide that GEMMs are engineered to rely upon for his or her survival.
NOV-001 is an investigational mixture product composed of NB1000S, a recombinant reside biotherapeutic product, and NB2000P, a botanically derived polysaccharide.
Within the section 1 stage of the medical trial, orally-administered NOV-001 was protected and nicely tolerated and demonstrated dose-dependent pressure engraftment in wholesome volunteers.
Preclinical research of NOV-001 confirmed constant and strong discount in urine oxalate ranges in a number of animal fashions of illness. Novome believes NOV-001 will allow managed engraftment of the intestine with a microbial pressure engineered to effectively degrade oxalate within the gastrointestinal (GI) tract to lower the danger of progressive kidney injury and kidney stone formation.
About enteric hyperoxaluria
Hyperoxaluria is a metabolic dysfunction characterised by considerably elevated urinary oxalate ranges. It’s usually related to kidney stones, power kidney illness (CKD) and different severe ailments.
Enteric hyperoxaluria outcomes from underlying power GI problems, comparable to bariatric surgical procedure or inflammatory bowel illness, that trigger elevated absorption of dietary oxalate, which is current in lots of wholesome meals.
There are roughly 250,000 sufferers within the U.S. with enteric hyperoxaluria and there are not any FDA-approved therapies.