Clinical-stage biotech company Siolta Therapeutics announced the completion of a $12 million Series C funding round. SymBiosis and Khosla Ventures co-led the funding round, which also included all existing investors.
The funding raised in this round will support further clinical development of Siolta’s lead product STMC-103H, a defined-consortia Live Biotherapeutic Product (LBP) focused on preventing the onset of atopic diseases in newborns. This funding is timely as Siolta continues to explore the potential of microbiome-based treatments in maternal and infant health.
The Siolta Therapeutics team also shared that the company received an NIH grant further to develop its preclinical program STMC-106 for necrotizing enterocolitis. This funding round will also support a collaboration with Johns Hopkins University to help select the clinical candidate for evaluation in future trials.
KEY QUOTES:
“This Series C financing is a key step for Siolta as we continue to develop STMC-103H in the clinic. We are excited to push the boundaries of current therapeutic development, pursuing a transformative approach that targets the underlying cause of disease, and we are committed to bringing safe and effective treatment options to patients. We appreciate the ongoing support of our investors, which is critical in our efforts to fulfill our mission.”
– Dr. Nikole E. Kimes, CEO and Co-founder of Siolta Therapeutics
“Our continued investment in Siolta Therapeutics reflects our confidence in the company’s ability to advance the development of STMC-103H and this novel class of therapeutics with the potential to transform the lives of the millions of newborns at risk of developing allergic diseases. The Siolta team continues to prove themselves as leaders in the microbiome therapeutics space through innovative approaches and efficient operations.”
– Aleksei Cremo, Vice President of SymBiosis
“We invested early in Siolta Therapeutics based on their bold plan for developing live biotherapeutic products that target the underlying cause of disease. Siolta’s novel approach is a game changer for drug development, and we are excited to continue partnering with them.”
– Samir Kaul, founding partner and managing director at Khosla Ventures
