Eligo Bioscience forges ahead with new acne treatment after $30 million investment
This funding will accelerate the development of Eligo's flagship program, EB005, which targets moderate to severe acne vulgaris, an inflammatory disease that affects about 3% of the global population.
This infusion of capital also propels Eligo towards becoming a clinical-stage biotech, the company said.
“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,” said Xavier Duportet, CEO of Eligo Bioscience.
“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.”
The round was supported by new investor Bpifrance and existing backers Khosla Ventures and Seventure Partners.
As a result of this financing, Laia Crespo, partner at Sanofi Venture, and Benoit Barteau, investment director at Bpifrance, will also join the board of directors.
“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,” said Crespo.
The investment will fuel pre-IND and IND activities to achieve early human data readouts in early clinical trials. Additionally, it will facilitate Eligo’s expansion into other chronic diseases, including oncology.
By focusing on the in-vivo delivery of genetic cargoes to the microbiome, Eligo claims its technology goes beyond traditional gene therapy and gene editing, expanding the range of addressable genetic targets.
Through precise genetic modification within the human microbiome, this approach could alter the course of numerous chronic and life-threatening diseases that are either triggered or driven by the expression of bacterial genes, the company added.
