Biomica, an Israeli clinical-stage biopharmaceutical medtech startup developing innovative microbiome-based therapeutics, raised $20 million in a financing round led by Shanghai Healthcare Capital (SHC).
Medtech is one of the big fields in Israel Startup Nation. It is something that everyone recognizes as a good investment which explains such raises at a time when the rest of the startup world is hurting due to the worldwide financial crisis. So far in December alone Nectin Therapeutics Ltd., an Israeli medtech startup that is developing novel targeted immunotherapies for the treatment of cancer, extended its Series A financing to over $25 million with investments led by IBF and Peregrine Ventures.
And Lumen, an Israeli medtech startup that offers a new device that people can use to check their own metabolism, raised $62 million in a Series B funding round in December led by Pitango Venture Capital. The company has now raised $77 million to date. So, Biomica is in good company.
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And Biomica does not just deal with one field, but develops tech that could be used in a number of ways.
Founded in 2017, Biomica is a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics utilizing a dedicated Computational Predictive Biology platform (CPB), licensed from Evogene. Biomica aims to identify and characterize disease-related microbiome entities and to develop novel therapeutics based on these understandings. The company is focused on the development of therapies for antibiotic resistant bacteria, immuno-oncology, and microbiome-related gastrointestinal (GI) disorders. Biomica is a subsidiary of Evogene Ltd.
“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.”
Ofer Haviv, Chairman of Biomica and President & CEO of Evogene, said “We are pleased to bring this new strategic partner, Shanghai Healthcare Capital, to join us. This external and independent endorsement validates our belief in the long-term potential of Biomica. It shows that all our hard work in building and investing in Biomica’s development, whose underpinning technology leverages our AI tech engine, MicroBoost AI, is a successful strategy and continues to bear fruit.”