Belgium-based biopharmaceutical company MRM Health has secured €55m ($64m) in a Series B funding round led by French pharmaceutical group Biocodex.
Other participants in the funding round include ATHOS and new investor BNP Paribas Fortis Private Equity, along with existing investors SFPIM and OMX Europe Venture Fund, among others.
MRM Health is engaged in developing advanced microbiome-based treatments for inflammatory diseases and immune-oncology.
The biopharmaceutical company will use the funds primarily to support a Phase 2b trial of its lead programme, MH002, in treating mild-to-moderate ulcerative colitis.
MH002 is a live biotherapeutic product that has shown promising results in Phase 2a clinical trials.
In addition, the company plans to advance two novel microbial consortia programmes to the US Food and Drug Administration (FDA) investigational new drug (IND) approval.
Biocodex CEO Nicolas Coudurier said: “We are excited to support MRM Health’s unique platform approach and leadership role in the field, reflecting our strategy of fostering innovation rooted in our core expertise.
“By combining our long-standing leadership in microbiota with breakthrough live biotherapeutics platforms, we aim to deliver meaningful solutions for patients, worldwide.”
As part of the transaction, Jean-Patrick Hennebelle from Biocodex, Julian Zachmann from ATHOS, and Goedele Ertveldt from SFPIM will be appointed as MRM Health’s board members.
MRM Health and Biocodex will work together to develop new therapeutic assets and expand manufacturing capabilities for live biotherapeutic products.
The partnership is expected to bring significant non-dilutive funding, bolstering MRM Health’s operational strength.
The collaboration will leverage MRM Health’s CORAL platform, which enables scalable and cost-effective manufacturing processes.
MRM Health CEO Sam Possemiers said: “With the support of our experienced international investor syndicate, we are now well-positioned to deliver transformative therapies for patients with chronic inflammatory diseases, where current treatments often fall short.
“Our CORAL platform gives us a unique edge in designing potent, resilient and scalable microbiome-based therapeutics. This new funding will allow us to further build both our platform and pipeline.”
