Ostia Sciences, a spinout from the University of Toronto specializing in oral and respiratory microbiome solutions, announced it has raised over C $1 million in its seed round and secured full intellectual property (IP) transfer from the university.
The company aims to close the round with an additional $700,000 by December 2024. And this funding will support the development of its SALI-10 probiotic (based on its phosphorylated lantibiotic technology) – which is ready for clinical trials targeting respiratory and oral diseases in early 2025. These milestones will enable Ostia to collaborate with leading contract development and manufacturing organizations (CDMOs) to scale production.
With full IP ownership, Ostia can independently advance research and development, solidifying its position as a leader in the emerging “Bugs to Drugs” biotherapeutic field. And the investment will further research, clinical trials and manufacturing as Ostia brings its innovative therapies to market.
KEY QUOTES:
“With full IP ownership and new funding, we’re ready to accelerate development of our SALI-10 probiotic.”
- CSO Dr. Michael Glogauer
“Our new phosphorylated lantibiotic technology offers targeted antimicrobial and pro-immune benefits that are unprecedented in the market. This seed round will allow us to expand our discovery pipeline, and with our first prototype ready for clinical trials, we are well-positioned to drive our vision forward.”
- CEO Dr. Abdelahhad Barbour
