Singapore-based precision gut microbiome company AMILI has raised $10.5 million in a Series A funding round led by technology and life sciences investor Vulcan Capital.
New investors also joined the round including Pruksa Group, TVM Capital Healthcare, Emtek Group, Capital Code, Pureland Group, Blue7 and SEEDS Capital, Enterprise Singapore’s investment arm.
WHAT IT DOES
Founded in 2019, the company is building a vast multi-ethnic repository of microbiome data and samples from Asia, including the only existing microbiome bank in Southeast Asia. It also develops diagnostic tests, predictive algorithms and microbiome modifying interventions through its proprietary analytics engine called AMILI Prime.
Its database is used to support academic institutions and biotech companies in identifying new biomarkers for the formulation of gut health products and to provide insights to food manufacturers.
Recently, AMILI launched its consumer health brand BIO & ME in Singapore, offering probiotics and diagnostic tests based on its proprietary microbiome database. The brand is set to launch in the rest of Southeast Asia and Hong Kong later this year.
In addition, the company offers fecal microbiota transplants to treat bacterial infections.
WHAT IT IS FOR
According to a press release, the fresh funds will be used in the short term for further expansion in Southeast Asia and later in the rest of Asia. It will also support the pursuit of more research partnerships and discoveries and the development of AMILI Prime.
WHY IT MATTERS
While there have been advances in gut health research worldwide in recent years, “there remains a significant gap in research representative of the Asian population,” claimed Tommy Teo, chief executive officer of Vulcan Capital.
Currently, AMILI focuses its clinical research in three areas: health and wellness, oncology and response to microbiome-based therapeutics. As of 2019, it has conducted over 20 research studies worth over $40 million across a range of health indications.
Other microbiome players in the global market have also attracted investors’ money in recent years. US based Viome Life Sciences, which offers microbiome testing and identifies biomarkers for chronic diseases, raised $54 million in a pre-series C round in November. Its latest funding will support its clinical trials aimed at developing early-stage diagnostics and therapeutics.
another company, Ombre raised $3 million in seed funding that will be used to improve gut health reporting and probiotic recommendations on its mobile app.