SOUTH SAN FRANCISCO — Federation Bio, a microbial therapeutics company targeting diseases in which the human microbiome can play a curative role, has closed a $50 million Series A financing and expanded its leadership team with a new CEO.
Federation Bio is pioneering new approaches for treating intractable diseases by combining an unprecedented number of microbial strains into highly diverse consortia, in some instances optimized with genetically engineered bacteria to enhance the immune system. The company was founded by Michael Fischbach, Ph.D., and Dylan Dodd, M.D., Ph.D., with support from Venrock.
“Our ability to engineer beneficial commensal bacteria so that they modulate immune function creates an enormously powerful tool,” said Dr. Fischbach. “This platform has demonstrated potential to induce immune responses relevant to target diseases including cancer and autoimmune disorders.”
Horizons Ventures led the Series A financing, joined by existing investors Venrock and Altitude, and additional new investors Seventure Partners/Health for Life Capital. Federation Bio will use proceeds from the financing to build out its in-house development process to enable Phase 1/2 manufacturing and advance its lead program into the clinic. The company’s lead program is focused on secondary hyperoxaluria, a condition affecting more than 200,000 Americans, with the goal of entering the clinic in 2022.
The company also announced the appointment of Emily Drabant Conley, Ph.D., as Chief Executive Officer taking over from Venrock partner and founding CEO Racquel Bracken, as well as the additions of both Dr. Conley and John Stuelpnagel, D.V.M, to the Federation Bio board of directors. Dr. Conley spent the past decade at 23andMe, most recently serving as vice president of Business Development, where she helped play an integral role in scaling the company from 30 employees into the world’s leading platform for genetic-driven drug discovery.
“Federation Bio’s completely novel approach to microbial therapy creates tremendous potential for a wide range of effective, broadly applicable therapies,” said Dr. Conley. “I couldn’t pass up the opportunity to be part of another field that’s on the verge of a massive breakthrough, heading up a company that is fully positioned to be an industry leader given their disruptive approach, exceptional team and outstanding science.”