MN Bio-Tech Firm Receives $25M In Funding
Roseville-based biotechnology company Rebiotix, Inc., announced Monday that it received $25 million in funding—adding to the $5 million in other funding it has raised since its 2011 inception.
Rebiotix develops biologic drugs designed to treat gastrointestinal diseases. The company said it will use its recent funding to support clinical research to advance its RBX2660 drug.
The company describes the drug as a “non-antibiotic treatment” that is “designed to reverse pathogenic processes responsible for disease through the transplantation of live human-derived microbes.”
About a year ago, the U.S. Food And Drug Administration (FDA) expedited the review of RBX2660—which is used for the treatment of the recurrent Clostridium difficile (CDI) infection—by designating it a “Fast Track” product. According to the company, the drug was named a “Fast Track” product based on the “urgent need” for a new therapy to treat patents with CDI.
CDI, also known as C. diff, accounts for more than 14,000 deaths annually in the United States, according to Rebiotix. It is primarily characterized by loose stool and abdominal pain. Most cases of CDI occur after the natural microorganisms in the intestinal lining have been disrupted by antibiotic use.
Rebiotix’s treatment builds off of an existing fecal transplant procedure. Fecal transplant is a process in which a healthy person’s microbes populate the sick patient’s intestines. The company says its new product would be more physician-friendly, ready-to-use, and available for order as needed.
“[CDI] in particular is an urgent public health threat,” President and CEO Lee Jones said in a statement. “Cases are growing and increasing in virulence. With RBX2660, we are making tremendous progress towards delivering the first commercially available microbiota therapeutic targeted at treating [CDI] in patients who have failed standard therapy and who have recurrent disease. This new round of funding will enable us to drive forward to this goal.”
Rebiotix said it also recently completed a “PUNCH CD” study of RBX2660, which it said was the first prospective multicenter clinical trail of a drug of its kind. The company said it will present the results of the study in October.
Rebiotix is currently working with the FDA to finalize plans for additional clinical studies that are needed to achieve regulatory approval for RBX2660.
In addition to advancing its lead product, the company said it would use the recent funding for research and development on future therapeutic products and for general working capital.