Siolta Therapeutics Raises $12 Million in Series C Financing for Clinical Development
12 Mar 2024
Phase 2Microbial therapy
SAN CARLOS, Calif.--(BUSINESS WIRE)--Siolta Therapeutics, a clinical-stage biotech company, has announced the completion of a $12 million Series C financing round. The round, co-led by SymBiosis and Khosla Ventures, with participation of all existing investors, reflects enthusiasm for Siolta's approach to developing live microbiome-based therapeutics.
'Siolta\u2019s novel approach is a game changer for drug development, and we are excited to continue partnering with them.'
The funds raised in this round will support the 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 financing is timely as Siolta continues to explore the potential of microbiome-based treatments in the areas of maternal and infant health.
Dr. Nikole E. Kimes, CEO and Co-founder of Siolta Therapeutics, commented on the funding: "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.”
Aleksei Cremo, Vice President of SymBiosis, said, "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.”
“We invested early in Siolta Therapeutics based on their bold plan for developing live biotherapeutic products that target the underlying cause of disease,” noted Samir Kaul, founding partner and managing director at Khosla Ventures. “Siolta’s novel approach is a game changer for drug development, and we are excited to continue partnering with them.”
The Siolta Therapeutics team is also excited to share that the company has received an NIH grant to further its preclinical program STMC-106 for necrotizing enterocolitis. This funding will also support a collaboration with Johns Hopkins University to help select the clinical candidate to be evaluated in future trials.
About Siolta Therapeutics
Siolta Therapeutics is a clinical-stage biotech company developing defined-consortia live biotherapeutic products that target the core drivers of disease. By leveraging our proprietary Precision Symbiotics Platform™, we have successfully advanced multiple programs into clinical and preclinical development. Our lead program, STMC-103H, is in phase 2 development for the prevention of atopic diseases, including atopic dermatitis, food allergy, and asthma. We are also advancing two preclinical programs, STMC-105 and STMC-106, targeting recurrent bacterial vaginosis and necrotizing enterocolitis indications for which no FDA-approved products exist. For more information, please visit us at www.sioltatherapeutics.com.
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