$30m for genetic medicine advancements

Eligo Bioscience SA has secured $30m in a series B funding round led by Sanofi Ventures. The funding includes support from new investor Bpifrance, a French public sector investment bank, and existing backers Khosla Ventures, American venture capital firm, and Seventure Partners, French venture capital firm, signifying the stride toward the company’s evolution into a clinical-stage biotech entity. “This is a defining time for Eligo as this funding puts us in a strong position to make a significant leap in treating diseases by editing the genetic makeup of the human microbiome,” said Xavier Duportet, PhD, Chief Executive Officer of Eligo Bioscience.

The funding will expedite the development of EB005, Eligo’s program targeting moderate to severe acne vulgaris. It aims to generate early human data in a PhIb/IIa clinical trial and facilitate Eligo’s expansion into various chronic diseases, including oncology. Eligo Bioscience’s method of delivering genetic material to the microbiome in vivo goes beyond typical gene therapy, offering accurate modification of genetic elements within the human microbiome. This unique approach holds potential to alter the course of numerous chronic and life-threatening diseases associated with bacterial gene expression.