Colorcon Ventures Invests in Novome Biotechnologies, an Engineered Microbial Therapy Company

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Sep 15, 2022, 08:00 ET

Innovative platform to enable oral delivery of biologics for the treatment of chronic diseases

HARLEYSVILLE, Pa., Sept. 15, 2022 /PRNewswire/ -- Colorcon Ventures, the corporate venture fund of Colorcon Inc., has invested in Novome Biotechnologies, a clinical-stage company that develops engineered oral microbial therapies. The company's novel delivery platform controls the colonization of therapeutically engineered bacteria, enabling first-in-class treatment of chronic disorders such as inflammatory bowel disease and enteric hyperoxaluria.

Ali Rajabi-Siahboomi, Vice President and Chief Innovation Officer at Colorcon, said, "Novome is aligned with Colorcon Ventures' interest in oral delivery of new therapeutic modalities. The company is pioneering a class of oral biologics with an impressive pace of scientific achievement. We look forward to supporting Novome as they realize the full potential of their platform."

Blake Wise, Novome's CEO, said, "We are pleased to have the support of Colorcon Ventures as we expand the capabilities of our delivery platform. Colorcon's global relationships and oral formulation expertise will add value to our next phase of growth."

Colorcon Ventures joins a prominent list of investors who also participated in Novome's recently announced Series B, including Tencent, DCVC Bio, 5AM Ventures, Alta Partners and Alexandria Venture Investments.

About Colorcon Ventures
Colorcon Ventures targets investments in transformational solutions for the pharmaceutical and nutraceutical industries across R&D, manufacturing, supply chain, and the delivery of pharmaceutical products and services. Colorcon Ventures is the corporate venture fund of Colorcon Inc., a trusted design and development partner to over 4,500 pharmaceutical companies, around the world, providing expertise to fast-track pharmaceutical formulation and manufacturing. For more information, please visit www.colorcon.com/ventures or follow @ColorconVC

About Novome
Novome Biotechnologies is a clinical-stage biotechnology company developing engineered cellular therapies for the gut to treat chronic diseases. Novome has developed the first platform for the controlled colonization of the gut with engineered bacteria to deliver targeted therapeutic cargos and functions, enabling first-in-class living therapeutics:

Genetically Engineered Microbial Medicines (GEMMs). Novome is utilizing its proprietary GEMMs platform in its proof-of-concept program in enteric hyperoxaluria, which is focused on the development of a therapeutic strain of bacteria that degrades oxalate to decrease the risk of kidney stone formation. Significant progress has also been made with earlier-stage programs enabling local delivery of high amounts of therapeutic protein cargo for the potential treatment of inflammatory bowel disease. Efforts are also directed toward advancing additional pipeline indications in irritable bowel syndrome and immuno-oncology. For more information, please visit the Novome Biotechnologies website at https://novomebio.com/

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SOURCE Colorcon Ventures