Oversubscribed Financing Includes New and Existing Investors
BEDFORD, Mass.–June 25, 2018 —Kaleido Biosciences, a clinical-stage healthcare company leading the development of novel chemistries to drive functions of the microbiome organ, today announced that it has closed $101 million in an oversubscribed Series C financing. Several new investors participated in the financing, including a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Fidelity Management and Research Company, Invus, and Rock Springs Capital, along with Kaleido’s founder, Flagship Pioneering, and a number of undisclosed investors. Kaleido plans to use the proceeds from this financing to advance its pipeline, including conducting multiple clinical studies across several therapeutic areas, and to expand its platform.
“We are pleased to have support from our new and existing investors who share Kaleido’s excitement in leveraging the therapeutic potential of the microbiome and the promise of accelerating the discovery and development of products for patients,” said Michael Bonney, chief executive officer and chair of Kaleido. “With our differentiated approach, we have an opportunity to lead a revolution in health and deliver novel treatments for a range of diseases and conditions.”
To date, microbiome therapeutic strategies have focused primarily on adding or subtracting bacteria to influence the trillions of microbes that make up the gut microbiome. Kaleido is the first company to develop novel chemistries to systematically drive functions of the microbiome organ. Kaleido’s Microbiome Metabolic Therapies (MMTs) direct these functional outputs to treat disease and improve overall health. The company is advancing a pipeline of MMTs in multiple therapeutic areas, including rare genetic disorders.
Kaleido is redefining traditional R&D with its unique discovery and development model that enables product candidates to advance rapidly into the clinic, dramatically reducing time and cost. This model results in early and continuous integration of human data and higher translatability between what is observed ex vivo and in vivo.
“We believe Kaleido has the potential to break the mold of traditional therapeutic product development. In just three years Kaleido has conducted 10 human clinical studies, produced a robust pipeline and assembled a world-class leadership team,” said Noubar Afeyan, founder and chief executive officer of Flagship Pioneering.
About Kaleido Biosciences
Kaleido™ is a clinical-stage healthcare company leading the discovery and development of novel chemistries to drive functions of the microbiome organ to treat disease and improve human health. The company is advancing a robust pipeline of Microbiome Metabolic Therapies™ (MMTs) across a range of therapeutic areas, including rare genetic disorders. Kaleido’s unique discovery and development model is redefining traditional R&D, enabling product candidates to advance rapidly into the clinic, dramatically reducing time and cost. Founded in 2015, Kaleido has received approximately $165 million to date from its founder Flagship Pioneering and a number of leading investors, including a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Fidelity Management and Research Company, Invus, and Rock Springs Capital. Learn more at https://kaleido.com/.
Amy Reilly, 617-890-5721