MyBiotics Pharma Receives Investment from Mii Fund, an Innovator in the Field of Dermatology
REHOVOT, Israel, Feb. 3, 2021 /PRNewswire/ -- MyBiotics Pharma, a microbiome therapeutics company, announced today that it has received an investment from Mii Fund, a partnership with Maruho Co. Ltd., Japan's preeminent leader in dermatology.
MyBiotics will use the funds to advance its microbiome therapeutics pipeline and continue to enhance its unique microbiome platform technologies. In addition, the company is initiating a development program in the field of skin microbiome, leveraging the support of the Mii Fund & Lab, and the relationship with Maruho Co. Ltd, a leading market player in the dermatology market.
MyBiotics has developed breakthrough, scalable and robust culturing, fermentation, and delivery technologies for generating a highly stable and diverse bacterial community that can be used to restore microbiome equilibrium. These technologies are effective for single microbes, complex microbial consortia and whole microbiome products, and are integrated with a computational AI platform.
"Together with Maruho we are excited about the potential of microbiome-based therapeutics in dermatology and skin care. With the combination of its microbiome productization and delivery platforms and AI capabilities, MyBiotics is perfectly positioned to bring a new category of solutions to unmet needs this space," said Eran Perry, Mii Fund's Managing Director.
"The transaction will allow us to strengthen our technology platforms and accelerate the development of our microbiome-based pipeline towards a more significant fund raising planned later this year," stated David Daboush, co-founder and CEO of MyBiotics Pharma. "We are extremely pleased to collaborate with Mii Fund and Maruho, which dominates Japan's dermatology market. This also marks our entrance into the field of dermatology, where we will leverage our technologies to develop novel skin products."
About Dermatology and the Microbiome
Skin microbiome is an emerging fast-growing field within the human microbiome space, with products under development aiming at addressing a variety of conditions including sensitive skin, dermatitis, adult acne and eczema all aiming at restoring the equilibrium of the skin microbiome. The global dermatology drug market was estimated at 36.82 billion dollars in 2019 and is expected to reach 63.99 billion dollars by 2027, representing a significant opportunity for skin microbiome.
About Mii Fund
MII invests in dermatology related technologies across different stages seed to growth – covering the pharma, biotech, medical device, digital health, and cosmetic sectors. Through the fund's partnership with Maruho, Japan's preeminent leader in dermatology, the Mii Fund aims to bring Israeli innovation in dermatology and skin care to the Japanese market, in effect giving Japan first rights to next generation skin therapies. For additional information, please visit https://www.miiscience.com.
MyBiotics discovers and develops microbiome-based products aimed at restoring microbiome equilibrium for the therapeutics and food markets. MyBiotics' technologies are effective for single microbes, complex microbial consortia and whole microbiome products, and are integrated with a computational AI platform which enables the design of unique microbial consortia and whole microbiome profiles. The Company's pipeline includes MBX-SD-201 and MBX-SD-202, for Clostridium difficile Infection (CDI) developed for oral delivery, that may become the first alternative for fecal microbiota transplant (FMT). MBX-SD-202 is planned to enter Phase I clinical studies in 2021. Additional products in the pipeline focus on woman's health, gastro and oncology indications, as well as probiotics and prebiotic programs. For additional information, please visit www.mybiotics-pharma.com or connect with us on LinkedIn.
SOURCE MyBiotics Pharma Ltd.