This week sees gene-editing company Eligo Bioscience announce a successful $30 million Series B funding round, led by Sanofi Ventures.
The French company is focused on addressing diseases driven by the expression of bacterial genes from the microbiome.
By focusing on the in-vivo delivery of genetic cargoes to the microbiome, Eligo’s technology goes beyond traditional gene therapy and gene editing, expanding the range of addressable genetic targets.
Through precise genetic modification within the human microbiome, this unique approach holds the promise of radically altering the course of numerous chronic and life-threatening diseases that are either triggered or driven by the expression of bacterial genes.
This infusion of capital, supported by new investor Bpifrance (through its InnoBio 2 fund), and existing backers Khosla Ventures and Seventure Partners, propels Eligo towards becoming a clinical-stage biotech.
With this financing, Laia Crespo, Ph.D., Partner at Sanofi Venture and Benoit Barteau, Investment Director at Bpifrance, will join the board of directors.
Laia Crespo, Ph.D, Partner at Sanofi Ventures, shared:
“We are excited to lead this financing for Eligo and support the company as they move to the clinic.
We are impressed by the unique delivery and editing technologies that Eligo has developed, and we believe this will set the stage for Eligo to forge new paths in the application of in vivo gene-editing technologies.”
According to Xavier Duportet, PhD, Chief Executive Officer of Eligo Bioscience:
“We are delighted to welcome additional prominent healthcare investors to our existing syndicate. We feel this reflects the strong support for our vision and confirms Eligo's potential to create a novel class of transformative genetic medicines.
This is a defining time for Eligo as this funding puts us in a strong position to make a significant leap in treating diseases by editing the genetic makeup of the human microbiome.”
This funding is earmarked for accelerating the development of Eligo’s flagship program, EB005, which targets moderate to severe acne vulgaris, an inflammatory disease that affects about 3 percent of the global population.
The investment will fuel pre-IND and IND activities to achieve early human data readouts in a Ph1b/2a clinical trial. Additionally, it will facilitate Eligo’s expansion into other chronic diseases, including oncology.