Eligo Bioscience, a trailblazer in the realm of gene editing focused on combating diseases associated with bacterial genes in the human microbiome, has successfully secured $30 million in a Series B funding round. Sanofi Ventures led this significant financial boost, with additional backing from new investor Bpifrance (via its InnoBio 2 fund), alongside continued support from existing partners Khosla Ventures and Seventure Partners (with Health For Life Capital™). This infusion of capital is a pivotal step for Eligo, propelling it towards becoming a clinical-stage biotechnology company.
Concurrently with this financial milestone, Laia Crespo, Ph.D., Partner at Sanofi Ventures, and Benoit Barteau, Investment Director at Bpifrance, are set to join Eligo's board of directors. Crespo expressed high hopes for Eligo's future: "We are excited to lead this financing for Eligo and support the company as they move to the clinic. We are impressed by the unique delivery and editing technologies that Eligo has developed, and we believe this will set the stage for Eligo to forge new paths in the application of in vivo gene-editing technologies.”
Xavier Duportet, Ph.D., CEO of Eligo Bioscience, shared his enthusiasm about the company's advancements and the support from the healthcare investment community. “We are delighted to welcome additional, prominent healthcare investors to our existing syndicate. We feel this reflects the strong support for our vision and confirms the potential of Eligo to create a novel class of transformative genetic medicines,” Duportet said. He emphasized the significance of this funding, describing it as a defining moment for Eligo, putting the company in a robust position to make substantial progress in treating diseases by editing the genetic makeup of the human microbiome.
This new funding is specifically allocated to accelerate the development of Eligo's flagship program, EB005, targeting moderate to severe acne vulgaris, a condition that affects about 3% of the global population. The investment is set to drive pre-IND and IND activities, leading to early human data readouts in a Phase 1b/2a clinical trial. Additionally, it will facilitate Eligo's expansion into other areas of chronic diseases, including oncology.
At the forefront of a biotechnological revolution, Eligo's approach surpasses traditional gene therapy and gene editing. By focusing on the in-vivo delivery of genetic cargoes to the microbiome, Eligo expands the range of addressable genetic targets. Their pioneering technique, involving precise genetic modification within the human microbiome, promises to radically alter the treatment landscape for numerous chronic and life-threatening diseases, many of which are influenced or triggered by bacterial gene expression.