Gene editing company Eligo Bioscience has announced a successful $30 million Series B funding round, led by Sanofi Ventures.
“We are excited to lead this financing for Eligo and support the company as they move to the clinic,” said Laia Crespo, Partner at Sanofi Ventures. “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.”
The funding is earmarked for accelerating the development of Eligo’s flagship programme, EB005, which targets moderate to severe acne vulgaris. The investment will fuel pre-IND and IND activities to achieve early human data readouts in a PhIb/IIa clinical trial. Additionally, it will facilitate Eligo’s expansion into other chronic diseases, including oncology.
“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, Chief Executive Officer 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.”
By focusing on the in-vivo delivery of genetic cargoes to the microbiome, Eligo’s hopes to go beyond traditional gene therapy and gene editing. Through precise genetic modification within the human microbiome, this approach has the potential to alter the course of diseases that are either triggered or driven by the expression of bacterial genes.