Metagen Therapeutics raises 300 million yen in Series B extension second close from GLIN Impact Capital

Metagen Therapeutics, a Japanese biotech company developing medical and pharmaceutical solutions based on gut microbiome research, has raised 300 million yen in a Series B extension second close from GLIN Impact Capital, an impact and ESG investment firm. The funding brings the total for the Series B extension round to 490 million yen and pushes cumulative funding to over 7.14 billion yen. The company stated that GLIN Impact Capital evaluated the social significance of its mission to deliver new gut microbiome-based treatments to patients, as well as the scalability and social impact of its business model, which uses donated stool as a medical resource and builds a supply chain from donor recruitment to pharmaceutical manufacturing.

The funds will be used to advance clinical development of its fecal microbiota transplantation (FMT) pharmaceuticals and medical technologies, including MGT-006 for ulcerative colitis, MGT-001 for ulcerative colitis, MGT-007 for gastrointestinal cancer, and MGT-008 for Parkinson's disease. Additionally, the company will optimize its supply chain for stool procurement and drug manufacturing. Metagen Therapeutics operates Japan's first stool donation facility, the Tsuruoka Stool Donation Room, and is working to establish a citizen-participation model for medical development. The company was founded in 2020 as a venture from Saitama Medical University, Keio University, and Tokyo Institute of Technology, with a focus on creating social impact through microbiome science.

The funding was conducted through third-party allotment of shares. GLIN Impact Capital's representatives commented on the high additionality of the FMT approach for unmet medical needs in areas such as ulcerative colitis, and expressed their intention to leverage their experience in impact measurement and management in the healthcare sector to support the company's growth and social impact expansion. The company's MGT-006 development is supported by the Japan Agency for Medical Research and Development (AMED) under its drug discovery venture ecosystem enhancement program.

Reported by ASCII.