MicroBiome raises $1.3 million for studies
Last Updated: 16:38 December 16, 2013
The Broomfield-based drug research company plans to report results of the two clinical studies in 2014 before asking investors for more funds, according to a company press release. The exact amount and the timing of a new fundraising campaign were not disclosed.
Current investor BVM Capital, an investment firm in Baton Rouge, Louisiana, led the new funding round. The fundraising effort was previously reported in a filing with the U.S. Securities and Exchange Commission last week.
"Growing evidence supports a role for the gut microbiome in a range of disorders, and interest in the therapeutic potential of microbiome modulators is soaring," Steve Orndorff, chief executive of Microbiome Therapeutics, said in the press release.
The U.S. Food and Drug Administration requires extensive testing on research drugs before approving them for commercial sale.
NM504, designed to help patients with diabetes achieve healthy blood glucose levels and manage their weight, is being tested in a clinical trial to manage insulin sensitivity and blood glucose levels in patients with Type 2 diabetes. It also is being tested as a therapy to be used in connection with metformin, a drug that increases the body's response to insulin.
MicroBiome's research on microbiome modulators indicate they can help grow desirable bacteria strains and modify factors such as the endocrine response that affects appetite, metabolism and energy storage in the body, the company has said.
Microbiome research has grown rapidly in recent years. Microbiomes are believed to have an effect on auto-immune diseases such as diabetes, rheumatoid arthritis, muscular dystrophy and possibly some cancers.
MicroBiome Therapeutics also has a research office in New Orleans.
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