Belgium’s MRM Health has concluded a Series B funding round, raising €55m ($64m) to progress its pipeline of microbiome-based biotherapeutic products.
The financing round was spearheaded by French pharma group Biocodex and supported by Germany’s ATHOS, with additional backing from new participant BNP Paribas Fortis Private Equity and existing investors SFPIM, OMX Europe Venture Fund, Ackermans & van Haaren, VIB and Qbic II.
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The capital injection is earmarked for the completion of a Phase IIb trial of MRM Health’s lead product, MH002 to treat mild-to-moderate ulcerative colitis.
MH002 is an advanced live biotherapeutic product (LBP) that employs a blend of disease-specific bacteria specifically targeted at combating inflammatory bowel diseases (IBD).
The development of MH002 was facilitated by the CORAL technology of MRM Health.
The product has demonstrated encouraging initial efficacy and safety profiles in Phase IIa studies for mild-to-moderate ulcerative colitis and pouchitis.
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By GlobalDataThe company is now set to advance two microbial consortia programmes towards investigational new drug (IND) approval.
These programmes address inflammation and improve the efficacy of immune-oncology treatments.
In conjunction with the funding round, MRM Health and Biocodex are poised to embark on a strategic collaboration to enhance therapeutic assets and establish scaleable manufacturing offerings for LBPs.
This alliance is anticipated to yield non-dilutive funding in the forthcoming years, bolstering MRM Health’s operational base.
The Series B round will also bring changes to MRM Health’s board of directors, with Biocodex’s Jean-Patrick Hennebelle, SFPIM’s Goedele Ertveldt, and ATHOS’ Julian Zachmann becoming members.
MRM Health CEO Sam Possemiers stated: “This funding marks a pivotal moment for MRM Health. With the support of our experienced international investor syndicate, we are now well-positioned to deliver transformative therapies for patients with chronic inflammatory diseases, where current treatments often fall short.
“Our CORAL platform gives us a unique edge in designing potent, resilient and scaleable microbiome-based therapeutics. This new funding will allow us to further build both our platform and pipeline.”
