MicroBiome Therapeutics LLC, which is headquartered near Boulder, Colo., and does research in New Orleans, reported receiving $1.3 million in bridge financing to support development of a product designed for type 2 diabetes and prediabetes.
The bridge financing was led by current investor BVM Capital, which has offices in Shreveport-Bossier, New Orleans and New York, and other company investors.
“These additional funds will enable us to complete our ongoing studies and prepare for our next set of clinical trials,” said Steve Orndorff, CEO of Microbiome Therapeutics.
The company is developing microbiome modulators that alter bacterial populations and their environment in the gastrointestinal tract to address serious health conditions.
Its NM504 product is being studied in two placebo-controlled, double-blinded, proof-of-concept trials. The first is assessing its ability to alter the GI microbiome to enhance insulin sensitivity and fasting blood glucose levels in prediabetic individuals. The second is testing NM504 in combination with metformin in diabetes patients with adverse GI effects. NM504 has previously demonstrated the potential to mitigate these adverse effects. the company said.