eureKARE is a new company that focuses on financing and building next-generation biotechnology companies in the disruptive fields of the microbiome and synthetic biology. It announced that it launched a $60 million Series A financing. The financing was supported by high-net-worth investors and family offices.
The pioneering new company is focused on two emerging and cutting-edge fields of research that have the potential to disrupt and revolutionize the life sciences industry that is the microbiome and synthetic biology. Nearly 90% of all diseases can be linked to the dysfunction and imbalance of the microbiome with the field forecast to reach $1.6 billion by 2028 at a CAGR of 21%.
Synthetic biology includes gene and cell therapy and industrial applications such as data storage and bioproduction, has seen huge advances in recent years and is expected to have far-reaching implications on the life sciences and other industries and for patients. It is forecast to reach $57 billion by 2028 at a CAGR of 25% per year. Gene therapies already generate c.$4 billion revenues with huge potential in gene editing, siRNA, mRNA, and are forecast to reach c.$10 billion by 2028.
eureKARE will create 3-5 new ventures a year and invest in 3-5 existing companies. This perfect mix of early-stage ventures with high growth potential and more mature de-risked companies mitigates risk for shareholders. It has a quickly growing portfolio comprising three exciting ventures to date: Stellate Therapeutics in the gut-brain axis field, the XNA technology company Omne Possible and NovoBiome, a discovery program dedicated to the gut-liver axis.