IP Group’s Microbiotica raises £36m to advance intestine drug to Phase 2

IP Group stated its portfolio firm Microbiotica had raised £36m to advance its lead microbiome drug into mid-stage medical trials.

The science and know-how investor stated Microbiotica, which develops orally dosed medicines based mostly on the intestine microbiome, would use the cash to take its drug MB310 into Phase 2 testing as a remedy for ulcerative colitis, a type of inflammatory bowel illness.

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The transfer follows constructive outcomes from an earlier-stage trial that met its targets and confirmed a statistically important enchancment in remission in contrast with placebo.

IP Group invested £4m within the funding spherical, which was led by the British Business Bank and included current backers comparable to Tencent and Cambridge Innovation Capital. Following the spherical, IP Group will maintain 16.4% of Microbiotica, a stake it values at £24.1m.

Greg Smith, Chief Executive of IP Group, stated: “Microbiotica has made thrilling progress in translating world-class microbiome science into potential new medicines for sufferers. The constructive outcomes from MB310 present a robust basis for its subsequent stage of growth, and we’re happy to extend our asset placement alongside a high-quality syndicate of traders. We sit up for supporting the group because it takes this extremely revolutionary strategy ahead.”