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Prometheus Biosciences Announces $130 Million Financing to Advance Precision Medicines for the Treatment of Inflammatory Bowel Disease

Nov 09, 2020•over 4 years ago

Amount Raised

$130 Million

San Diego

Description

 Prometheus Biosciences, Inc. ("Prometheus") a biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the diagnosis and treatment of inflammatory bowel disease (IBD), today announced the completion of a $130 million equity financing led by Eventide Asset Management and RTW Investments, LP.  Additional new investors include Perceptive Advisors, Cormorant Capital, Cowen Healthcare Investments, Point72 Asset Management and Irving Investors, with participation from existing investors Ascend Global Investment Fund, Cedars-Sinai Medical Center and Nestlé SA.  In connection with the financing, Joy Ghosh, Ph.D. of Eventide Asset Management and Adam Stone of Perceptive Advisors will be joining the Prometheus Board of Directors. 

Company Information

Company

Prometheus Biosciences, Inc.

Location

San Diego, California, United States

About

Prometheus Biosciences, Inc. is a privately held biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company's precision medicine platform, Prometheus 360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is guided by its board of directors, led by Chairman Tachi Yamada, M.D., and a scientific advisory board composed of key opinion leaders in IBD, including Stephan Targan, M.D., William Sandborn, M.D. and Dermot P. McGovern, M.D., Ph.D.  In addition, Prometheus has entered into collaborations to develop targeted therapies for IBD.

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