ImmuneBiotech AB, the probiotic and microbiome company developing and marketing sciencebased probiotics, is pleased to announce SEK 4.3 million (€0.43 million) investment in its recently completed financing. Due to the continuing interest from investors and business angles, the company intends to prolong its fund-raising into 2019.
A large portion of the funding will be used to commercialize its lead product GutMagnificTM a new scientifically designed probiotic food supplement for Irritable Bowel Syndrome (IBS), one of the most common gut conditions affecting 15 % of the population. ImmuneBiotech also plans to allocate funding to investigate the clinical effect of GutMagnificTM.
“This new share issue has attracted international investors and once again confirms my belief in ImmuneBiotech as one of the most promising biotech companies in the hot new field of microbiome and probiotics. ImmuneBiotech has huge potential based on its unique know-how and expertise in designing science-based probiotics together with its access to a unique source of probiotic bacterial strains. Very few companies have this scientific approach to probiotic products.” said ImmuneBiotech’s strategic advisor and Chairman Gregory Batcheller.
The lead investor, Mr. Michael McGeever, is well-known in the international probiotic and microbiome sector. “I’m excited to be onboard with the ImmuneBiotech team. IBS certainly needs a solution and ImmuneBiotech’s GutMagnificTM can be a big part of it. I also believe future products in the Companion Probiotics® line have the potential to be game-changers in this industry.” said Mike McGeever. “It’s really fantastic to see our 15 years of scientific work now being translated into a product that truly helps people suffering with difficult conditions. Our mission is to make it available to the consumers as soon as possible. Starting with a successful Seed Round and this Series A funding, the company raised about 7 million SEK during 2018 and we couldn’t be more excited about our funding partnerships” said Shahram Lavasani, CEO of ImmuneBiotech.