10 Jun Bio-Me secures NOK 10 mill in financing
OSLO, Norway, June 10, 2021
Bio-Me today announced that it has successfully raised NOK 10 mill in a fully subscribed funding round. Both existing and new investors participated in the financing round, with new investors contributing to the majority of the capital. The funding round makes it possible for the company to further progress several of its clinical programs and explore other business opportunities for shorter-term revenue generation. These steps are part of a plan to position Bio-Me as a leader in microbiome-based Precision Medicine and contribute to optimal patient treatment and success of microbiome-based therapy.
Bio-Me was founded in 2016 based on research and development in the microbiome field over the last 10 – 15 years. The company has developed a novel gut microbiome analysis tool in collaboration with Thermo Fisher Scientific, called Precision Microbiome Profiling (PMP™). PMP™ offers a targeted approach to microbiome analysis/profiling using state-of-the-art qPCR technology. It enables the analysis of 100 – 200 samples in 2 hours. The proprietary PMPTM technology allows Bio-Me to deliver a test that has the potential to meet the requirements for clinical diagnostic applications.
The human microbiome holds promise for precision medicine and companion or complementary diagnostics for all existing and future drug therapies. It is expected that companion and complementary diagnostics and precision medicine will have a high value in the healthcare marketplace in the future based on their ability to simultaneously improve patient outcomes and lower healthcare costs. A microbiome-based test based on PMP™ technology will be at the forefront of new companion or complementary diagnostics, offering unequalled speed, specificity and sensitivity.
Morten Isaksen, CEO of Bio-Me commented: “The successful funding round is an important step towards positioning Bio-Me for further growth and being a leader in microbiome-based Precision Medicine. We are excited to move forward with our plans to achieve specific value-driving milestones that position PMP™ as the preferred solution for therapeutic microbiome companies.”