PharmaBiome has successfully raised 1.75 million francs from new and existing investors. According to a press release, this new capital is bridge financing, with the company also planning to raise additional funds in Series A financing down the line.
The investors include Thomas Meier and Patrik Forrer. Thomas Meier, formerly the CEO of Santhera Pharmaceuticals AG, has been chosen as the new Chairman of the Board of PharmaBiome. Patrik Forrer is the other new member of the Board of Directors, having previously co-founded Molecular Partners based in Schlieren.
PharmaBiome is a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH). The company is developing treatments for gastrointestinal diseases. Its lead product is PB002, a patent-protected treatment for ulcerative colitis. PB002 is a co-cultured consortium of nine bacterial strains. The raised capital will be used to initiate the first pilot clinical trial with PB002.