Metagen Therapeutics, a Tsuruoka, Japan-based company focusing on drug discovery and development based on intestinal microbiome-based therapeutics for various diseases, completed its Series A funding in 2 rounds, raising a total of 1.7 billion yen.
Sparx Asset Management, Nippon Venture Capital, Mizuho Capital and SMBC Venture Capital have joined the 1st round investors of JIC Venture Growth Investments, a type of sovereign wealth fund in Japan, JAFCO, Japan’s largest venture capital company, Fast Track Initiative and Keio Innovation Initiative. With the closing of the 2nd round, Metagen Therapeutics has raised a total amount of 1.93 billion yen since its inception.
The company intends to use the funds for:
1. Development and operation of the intestinal microbiota bank
- Development of registration system for intestinal microbiota donor candidates
- Operation of intestinal microbiota bank (in accordance with institutional guidelines) – Donor recruitment/online interview, donor eligibility evaluation, intake of stool donations, manufacturing/assessment/storage of intestinal microbiota solution
- Establishing process regarding preparation and quality control for intestinal microbiota solution
2. Promotion of basic and clinical research for clinical application of FMT (such as joint research related to immune checkpoint inhibitors)
3. Research and development of intestinal microbiota drug discovery program (including probiotics)
Founded by researchers of Juntendo University, Keio University and Tokyo Institute of Technology in 2020 and led by President & CEO Taku Nakahara, Metagen Therapeutics is a biotech startup focused on drug discovery and medical business through microbiota therapeutics. The company has been accelerating its drug discovery and development work on intestinal microbiome-based therapeutics for various diseases such as cancer, ulcerative colitis, and Parkinson’s disease. It aims for social impact through medical care and drug discovery.
FinSMEs
15/06/2023