USA – Siolta Therapeutics, a clinical-stage biotech company, has announced that it has raised US$30 million in Series B funding to support the clinical development of its lead product STMC-103H.
The Series B funding round involved participation from top-tier investors and venture firms, including series A investors Khosla Ventures and Marc Benioff as well as new investors Seventure (Health for Life Capital Fund), SymBiosis, and Global Brain (Kirin Health Innovation Fund/GB-VII).
Siolta’s live biotherapeutic product (LBP) platform is designed to develop microbiome-based medicines and diagnostics for the prevention and treatment of chronic diseases in targeted populations.
“This funding allows us to push ahead in establishing the clinical relevancy of an early intervention approach that not only treats established disease, but also allows for the potential of preventing disease.”Nikole E. Kimes – CEO and Co-founder, Siolta
The lead program, which is focused on alleviating allergic diseases, aims to stop asthma before it starts through the disruption of the atopic march. The funding round will go towards supporting clinical proof of concept (POC) trials testing the efficacy of their lead LBP product.
“This funding allows us to push ahead in establishing the clinical relevancy of an early intervention approach that not only treats established disease, but also allows for the potential of preventing disease. We are one step closer to bringing tailored, clinically differentiated microbial therapeutics to the market,” says Nikole E. Kimes, PhD, CEO and Co-founder of Siolta.
This news comes on the heels of other operational and regulatory successes for the company — which includes the expansion of its executive team with the addition of John Martin, PhD and former CEO/Chairman of Gilead, as an executive advisor and Rich Shames, MD, an experienced drug developer and successful clinical scientist as Siolta’s Chief Medical Officer.
Siolta has also received the Fast Track designation from the U.S. Food and Drug Administration (FDA) for its lead prevention program and completed a Phase 1b “first in human” safety trial in adults, adolescents, and children, recently scaling its manufacturing to support phase 2 studies.
“We aim to support bold visions backed by deep scientific knowledge to catalyze groundbreaking change,” explained Samir Kaul, Founding Partner and Managing Director at Khosla Ventures. “We believe Siolta is well-positioned to fundamentally alter the way we approach chronic diseases and usher in a new era of microbiome-based medicine.”
Founded in 2016, Siolta Therapeutics leverages their deep knowledge of the developing infant gut microbiome and its role in promoting immune tolerance to develop targeted microbial therapeutics and companion diagnostics for the prevention and treatment of inflammatory diseases.
The company’s blended expertise from microbiology, immunology, and bioinformatics supports the development of a multifaceted platform that represents a new frontier in the pursuit of tailored, clinically differentiated microbial therapeutics.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE