eureKARE to use $60m financing to bolster next-generation European biotech companies

eureKARE has launched with a $60m Series A financing round to bolster the next-generation of European biotech companies working in the fields of the microbiome and synthetic biology.

The new company, which is focusing on financing and building biotech companies in Europe in these emerging research fields, has developed a two-step investment approach to select and nurture ‘high-quality’ European innovation.

Dysfunction and imbalance of the microbiome is believed to be linked to up to 90% of all disease, with this field predicted to reach $1.6bn by 2028.

Meanwhile, synthetic biology – which comprises gene and cell therapy as well as industrial applications like data storage and bioproduction – is forecast to reach $57bn by 2028.

eureKARE has set up biotech start-up studio models – eureKABIOME (microbiome) and eureKASYNBIO (synthetic biology) – to select innovative European science and create a ‘unique ecosystem’, providing scientists with the resources and expertise to create new companies.

The company will also invest in biotech companies in the later stages of development – which have completed Series B financing or beyond – and will also offer some liquidity to early investors.

In total, eureKARE is expecting to create three to five new ventures each year and also invest in three to five existing biotech companies.

So far, eureKARE’s portfolio consists of three ventures: Stellate Therapeutics, a company working in the gut-brain axis field; Omne Possibile, a company working with XNA technology and NovoBiome, a discovery platform focused on the gut-liver axis.

“European science remains underexploited compared to countries like the US, with the gap between academia and big pharma widening over the years. eureKARE aims to build bridges between these two bodies to create and support new ventures,” said Rodolphe Besserve, chief executive officer of eureKARE.

eureKARE’s founder Alexandre Mouradian added: “Europe is at the forefront of microbiome and synthetic biology research and it is vital to find innovative new investment approaches to support the next wave of life science entrepreneurs.

“Through eureKARE’s pioneering approach, we are poised to identify, select and nurture the very best European science to create exciting new companies with the potential to disrupt and revolutionise the life sciences industry for the benefit of patients, while delivering shareholder value.”