Biomica, an Israel-based clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics and a subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN), raised $20 million in financing.

The round was led by Shanghai Healthcare Capital (SHC). The financing is subject to customary closing conditions, including clearance by Chinese regulatory authorities.

The financing round will enable Biomica to forge ahead, developing its pipeline of microbiome-based therapeutics. Biomica plans to use the proceeds to complete its current BMC128 phase 1 immuno-oncology study and advance to phase 2 clinical trial; scale up and complete GMP production of BMC333 in preparation for a phase 1 clinical trial for the treatment of inflammatory bowel disease (IBD); as well as advance additional programs.

“We are delighted to welcome SHC to Biomica as a strong value-adding shareholder and we are grateful to our existing shareholders and partners for their continued support,” commented Dr. Elran Haber, Chief Executive Officer of Biomica. “Biomica has made tremendous progress in the past year. This includes the initiation of the first in-human phase 1 immune-oncology clinical trial of BMC128 as well as advancing our infectious and gastrointestinal-related disease programs. We look forward to working closely with our shareholders, as we continue our advancements and meet our milestones in the coming years.”

Biomica’s drug candidates are based on rationally designed consortia of microbes, selected through high-resolution functional microbiome analysis using PRISM, a computational platform powered by Evogene’s ‘MicroBoost AI’ tech engine.

Company: Biomica Ltd.

Raised: $20.0M

Round: Unknown 

Funding Month: December 2022

Lead Investors: Shanghai Healthcare Capital (SHC)

Additional Investors:

Company Website: https://www.biomicamed.com/

Software Category: AI-Driven Microbiome-Based Therapeutics

About the Company: Biomica is a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics for the treatment of immune-mediated and infectious diseases, with a specific focus on Immuno-Oncology and GI-related disorders. Biomica aims to identify and target microbes, metabolites, and other microbiome-related components that are key in the etiology of human diseases impacted by the microbiome, using both biological and small-molecule approaches. Biomica’s discovery and development efforts are powered by the PRISM (Predictive, High Resolution, Integrative Selection of Microbes) platform.

Source: https://www.forbes.com/sites/gilpress/2022/12/21/20-million-funding-for-ai-driven-microbiome-based-therapeutics/