AI-Based Drug Development Company Xbiome Completed B-Round Financing Worth Nearly US$100 Million
On Wednesday, Xbiome Biotech Co., Ltd., an AI-based microbiome drug development company in Shenzhen, China, announced the completion of a B-round of financing totaling nearly $100 million. The company says this is one of the highest financings in the domestic microbial industry.
Its investors are famed investment institutions at home and abroad, such as Legend Capital, Gaorong Capital, 5Y Capital Capital, Primavera Capital Group, Wuyuan Capital, Chunhua HIKE Capital Capital and Tiantu Capital.
Xbiome says the funds are earmarked for the clinical trials of drugs, IND application projects in the US and China, and the R&D of candidate drug lines. The new investment is also to introduce commercial authorization and cooperation with large drug companies, and accelerate the company’s upgrading process.
Founded in 2017, Xbiome is an industry-leading AI-based microbiome drug development company in China. The company is dedicated to the development of microbiome therapies such as fecal microbiota transplantation (FMT) and mini-FMT for the alleviation and treatment of intestinal and other related disease.
During the B round financing, in June 2021, its FMT treatment obtained the Investigational New Drug (IND) Application issued by the FDA and officially entered clinical trials.
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According to data obtained from the FDA, this is the first approved FMT from Asia. Significant progress has been made in the application of this project in China, and an application for Pre-IND has recently been submitted to the Center for Drug Evaluation, National Medical Products Administration.
At present, Xbiome has five self-developed first-in-class microbiome drug lines, and has worked with many Chinese hospitals in China, such as the Beijing Cancer Hospital, Peking Union Medical College Hospital and Nanfang Hospital. Many clinical drugs show remarkable curative effects.
In addition, Xbiome has actively expanded the drug pipeline by introducing commercial authorization and joint development. In May 2021, Xbiome reached a development agreement with 3SBio Group to treat nephropathy with whole bacteria capsules.