Biotechnology company Holoclara has secured an oversubscribed $16m in a Series A financing round, earmarked for the advancement of new worm-derived therapies targeting allergic and autoimmune diseases.
BOLD Capital Partners spearheaded the funding round, with contributions from Tarrasque, Horizons Ventures, Endurance28, Freeflow Ventures and a group of angel investors.
In conjunction with the funding, former Food and Drug Administration (FDA) chief counsel and Covington & Burling senior counsel Peter Barton Hutt became part of the board of directors of Holoclara.
The latest capital injection will facilitate the progression of the company’s orally available therapeutics into clinical trials by the end of 2024.
Holoclara is also expanding its discovery engine, which is dedicated to isolating specific molecules from worms that exhibit therapeutic potential.
The company’s platform is based on research by CEO and co-founder Dr Andrea Choe, who identified a unique pheromone language among roundworms, which could have developed over hundreds of millions of years.
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By GlobalData
Dr Choe’s work led to the identification of worm-derived molecules that inhibited disease formation in animal models of allergic and autoimmune diseases.
These discoveries are the cornerstone of Holoclara’s technology, which employs synthetic chemistry to replicate these therapeutic molecules, paving the way for the creation of safe, orally administered medications.
The treatments hold the promise of not only managing but potentially curing a range of prevalent diseases.
Dr Choe stated: “Holoclara was born out of an unmet clinical need. During my physician training, I met countless patients with life-altering allergies and autoimmune disorders that were often undiagnosed and untreated.
“Medicine lacked the tools to address these debilitating diseases — despite compelling evidence [that] I and other worm scientists unearthed pointing to worms as a promising, if unexpected, therapeutic approach.
“With our world-class team and leading investors, we are taking matters into our own hands to usher in a new era of medicines inspired by nature that can transform the lives of millions of people.”
