Israeli biopharma firm BiomX raises $32 million in private funding

JERUSALEM (Reuters) - Israeli biopharma firm BiomX said on Wednesday it raised $32 million in a private funding round that will primarily be used to advance the company's drug candidates for the treatment of acne and inflammatory bowel disease (IBD).

The round was led by existing investors OrbiMed, Johnson & Johnson Innovation - JJDC Inc, Takeda Ventures Inc, 8VC, MiraeAsset, Seventure Partners' Health for Life Capital I, and SBI Japan-Israel Innovation Fund. They were joined by additional European investors and new investors.

"The new funding will enable us to transition BiomX to a clinical stage company as our lead programs in acne and IBD, both novel phage therapeutics targeting harmful bacteria in the microbiome, enter the clinic," said BiomX CEO Jonathan Solomon.

BiomX will also continue to advance its liver disease and colorectal cancer programs by identifying key bacteria driving these diseases and developing phage cocktails against them, he added.

(Reporting by Steven Scheer; Editing by Tova Cohen)