£500,000 injection for Aberdeen biotech firm EnteroBiotix
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A biotechnology company focused on using the body’s own micro-organisms to prevent and treat disease has raised £500,000 in funding.
The financing into Aberdeen-based EnteroBiotix was led by Equity Gap and supported by the Scottish Investment Bank, the investment arm of Scottish Enterprise.
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Hide AdThe cash injection will be used to further develop the company’s product pipeline and grow its manufacturing and research team.
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The seed round includes £100,000 in non-dilutive funding from a Smart Scotland feasibility grant to allow the company to develop entirely anaerobic – oxygen free – collection and processing capabilities.
James McIlroy, a final year medical student at the University of Aberdeen and chief executive at EnteroBiotix, said: “This investment and grant funding will be pivotal in furthering the objectives of EnteroBiotix as we develop the first orally available products for faecal microbiota transplantation in Europe.
“We are excited to work with Equity Gap and Scottish Enterprise as we build EnteroBiotix into a dominant player this fast-moving field of science and medicine.”
Fraser Lusty, investor director at Equity Gap, added: “We are delighted to provide the early equity to back James and the team at EnteroBiotix.
“He has impressed greatly with his vision, ambition and desire to create a business that will provide a much-needed solution for disease prevention and treatment. He has secured strong clinical and commercial collaborations.”