Israel-based start-up Biomica has reportedly raised an undisclosed amount of money via another financing round, led by Shanghai HealthCare Capital and its parent company Evogene. The proceeds will be used for a Phase I clinical study for its tumor immunity project BMC128, GMPc-compliant manufacturing for BMC333 for inflammatory bowel disease (IBD), along with a Phase I study and development of other drugs.
Company Background and Development
Biomica, an innovative drug developer at the clinical stage, conducts microbial genomics analysis through a high-resolution computing platform. The company designs microbial strain combinations and develops innovative drugs for formula bacteria. Shanghai HealthCare Capital, recognizing the market potential of living bacteria drugs, believes that more such products will obtain market approval following the recent approval of the first Live Biotherapeutic Product (LBP) in the US. SPH, a limited partner of Shanghai HealthCare Capital, is among the leading companies in the emerging field.
Future Prospects and Strategic Implications
The financing round positions Biomica to advance its clinical studies and manufacturing capabilities. By investing in the development of BMC128 and BMC333, Biomica aims to address significant unmet medical needs in tumor immunity and inflammatory bowel disease, contributing to the advancement of innovative therapies in these areas.-Fineline Info & Tech
