MRM Health, a clinical stage biopharmaceutical company developing microbiome-based therapeutics, has raised €55 million (US$64 million) in a Series B financing round to accelerate development of its product pipeline.

The round was led by French pharmaceutical group Biocodex, with participation from ATHOS, BNP Paribas Fortis Private Equity and existing investors SFPIM, Ackermans & van Haaren, OMX Europe Venture Fund, Qbic II and VIB.

The new funds will support a phase 2b trial of the company’s lead programme, MH002, in patients with mild-to-moderate ulcerative colitis. MH002 is a live biotherapeutic product (LBP) consisting of a rationally designed microbial consortium. In earlier phase 2a trials, it showed safety and initial efficacy in both ulcerative colitis and pouchitis, a rare condition that can follow surgery for ulcerative colitis.

MRM Health also plans to advance two additional microbial consortia programmes to IND approval. These target chronic inflammation and improved efficacy of immuno-oncology therapies. In parallel, the company will expand its broader portfolio of live biotherapeutics through strategic partnerships in human and animal health.

As part of the financing, MRM Health and Biocodex intend to establish a strategic partnership in development and manufacturing of live biotherapeutics, adding significant non-dilutive funding on top of the equity investment.

Sam Possemiers, chief executive officer of MRM Health, said: “This funding marks a pivotal moment for MRM Health. 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.”

Nicolas Coudurier, chief executive officer of Biocodex, added: “Biocodex is a pioneer in microbiota science for over 70 years. 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.”