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Vedanta Biosciences completes $27M series C financing

Vedanta Biosciences Inc., a subsidiary of Boston-based PureTech Health PLC, completed a $27 million series C financing.

Vedanta Biosciences said it plans to use the proceeds to advance its pipeline of microbiome-derived product candidates, which include VE416, VE800 and VE303 for treating food allergy, advanced or metastatic cancers and a certain type of bacterial infection, respectively.

Invesco Asset Management Ltd., a shareholder of PureTech Health, and PureTech Health contributed $5 million each and subscribed to 220,751 preferred shares of Vedanta Biosciences.

Bill & Melinda Gates Foundation, Bristol-Myers Squibb Co., Rock Springs Capital Management LP and Seventure Partners SA also participated in the financing round.

Cambridge, Mass.-based Vedanta Biosciences develops treatments for human diseases based on research of the relationship between microbes and the human immune system.