Kaleido Raises $60 Million in Public Offering to Advance Pipeline of Microbiome Targeted Therapies
February 4, 2021
Rare Daily Staff
Kaleido Biosciences has raised $60.4 million in a public offering of its stock to advance its differentiated, chemistry-driven approach to targeting the microbiome to treat disease.
Kaleido priced 5.3 million shares of its common stock at $11.50 per share. In addition, underwriters are granted a 30-day option to purchase up to an additional 787,500 shares of its common stock at the public offering price less underwriting discounts and commissions.
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 develops novel chemistries to systematically drive functions of the microbiome organ. Kaleido’s Microbiome Metabolic Therapies direct these functional outputs to treat disease and improve overall health, and is advancing a pipeline of candidates in multiple therapeutic areas, including rare genetic urea cycle disorders.
While Kaleido has shifted its focus to clinical studies of KB109 to treat patients suffering from mild-to-moderate Covid-19, the company has ongoing programs including KB295 targeting ulcerative colitis, and KB195 for the treatment of urea cycle disorders, for which a phase 2 study is planned to commence.
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