Metagen Therapeutics adds JPY300m from GLIN in Series B extension
GLIN Impact Capital backs clinical development and the donor-to-manufacturing supply chain behind Metagen’s microbiome therapies.
Metagen Therapeutics raised JPY300 million from GLIN Impact Capital in the second close of its Series B extension, announced on September 25. The investment takes the extension to JPY490 million, following a JPY190 million first close announced earlier in September.
The Japanese biotech company will use the capital to advance microbiome medicines and medical technologies, including MGT-006, an oral fecal microbiota transplantation candidate for ulcerative colitis. Metagen said the candidate was in Phase 1/2 clinical trials in Japan and the United States.
The financing will also strengthen a supply chain that links donor recruitment and screening with collection and clinical-drug manufacturing. GLIN will support the development of systems for measuring and managing the social impact of Metagen’s work.
Use of funds
Advance MGT-006 clinical development
Develop FMT medical technologies
Strengthen donor and manufacturing supply chain