Glasgow biotech firm raises £15.5m to ramp up drug pipeline and add jobs

A Glasgow-based biotech company has had a fresh injection of $21.5 million (£15.5m) as it ramps up its drug development programme.

EnteroBiotix operates research laboratories and pharmaceutical manufacturing suites in Glasgow and Aberdeen. It develops novel microbial therapeutics that enhance the human gut and target multiple areas.

The proceeds from the bumper fundraising will be used to further advance the firm’s drug pipeline and underpin its product development and manufacturing capabilities.

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The financing was led by Thairm Bio and includes new US-based investor Kineticos Ventures, joining existing investors including Scottish Enterprise and SIS Ventures.

Dr James McIlroy, CEO at EnteroBiotix, which was established in 2017 and is headquartered in Glasgow. Picture: Pete Copeland

In addition to advancing its product pipeline, the firm plans to grow its headcount to around 50.

EnteroBiotix chief executive James McIlroy said: “This successful financing round is a strong endorsement of our pioneering microbiome approach. It gives significant momentum to our mission to transform the lives of patients through novel orally delivered medicinal products that enhance the gut microbiome.

“We are determined to change the standard of care for patients battling debilitating diseases associated with the microbiome.”

Mark Bamforth at Thairm said: “We are delighted to extend our backing of EnteroBiotix’s exciting microbiome-based portfolio. We believe that its innovative approach, including end-to-end control of its supply chain to support clinical trials, could provide significant benefits across a range of diseases.”

Frank Lis, president at Kineticos Ventures, added: “At Kineticos Ventures we back ambitious entrepreneurs that are advancing the boundaries of scientific research to improve patient outcomes.

“We were attracted to EnteroBiotix’s innovative approach to reinstating gut microbiome diversity and function as it has global potential in multiple disease areas.”

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