Second Genome Announces Series A Financing
ATV, Morgenthaler co-lead investment in company leveraging the microbiome for personalized medicine solutions
SAN FRANCISCO, CA – August 9, 2011 – Second Genome, Inc., the microbiome company, announced today that it has closed a Series A investment co-led by new investors Advanced Technology Ventures (ATV) and Morgenthaler Ventures, and including previous investors Wavepoint Ventures, Seraph Group, and individual Series Seed investors. Second Genome will use the $5 million investment to further its development of microbiome-based personalized medicine solutions for gastrointestinal diseases and disorders.
“We are extremely pleased to have ATV and Morgenthaler join our efforts at Second Genome,” said Peter DiLaura, the company’s President and CEO. “Both firms share our enthusiasm for the transformational impact that insights about the microbiome will bring to diagnostic and therapeutic approaches to human health.”
Leveraging its Microbiome Signature Discovery Platform, Second Genome is pursuing microbiome-based personalized medicine in gastrointestinal diseases, including irritable bowel syndrome, inflammatory bowel disease, antibiotic associated diarrhea, and necrotizing enterocolitis.
“The therapeutic areas being pursued by Second Genome represent significant unmet needs for patients, clinicians, and payers,” said Mike Carusi, ATV General Partner. “Combining therapies with microbiome-based tools for patient sub-typing will result in significantly improved outcomes.”
Second Genome is partnering with academic researchers and manufacturers of novel and existing therapies for gastrointestinal diseases, including developers of probiotic, nutraceutical, and pharmaceutical products, to conduct research on the impact of these therapies on the gut microbiome and to develop signatures for improved response.
“Over the past decade we have witnessed the enormous impact that personalized medicine can have on patient care,” said Dr. Corey Goodman, Second Genome co-founder and Chairman of the Board of Directors. “Our ability to analyze the entire microbiome and to identify signatures gives us a key set of tools to unlock the potential of microbiome-based personalized medicine in major disease areas.”
“Improved sub-typing of patients with gastrointestinal disorders gives us the ability to drive better clinical results – the right therapy for the right patient – allowing clinicians to leverage therapies, including probiotics and nutraceuticals, more effectively,” added Jason Lettmann of Morgenthaler Ventures.
The company also announced that Mike Carusi of ATV and Jason Lettmann of Morgenthaler have joined the Second Genome Board of Directors. Existing members include Dr. Corey Goodman; Dr. Matt Winkler, CEO of molecular diagnostics company Asuragen; Peter Gardner, Managing Director of Wavepoint Ventures; and Peter DiLaura.
About Second Genome
Second Genome was founded in 2009 as PhyloTech, Inc. Second Genome has developed a high-throughput platform for rapid and accurate microbiome signature identification and validation. Second Genome uses this platform for its research and development programs in gastrointestinal health, and provides microbial profiling services to academic, biotechnology, and pharmaceutical customers. Visit us at www.secondgenome.com and on Twitter @secondgenome.
Director of Marketing, Second Genome