University of Chicago's ClostraBio has won support from two university funding initiatives for its food allergy medication.
ClostraBio, a US-based food allergy medication developer spun out of University of Chicago, has closed a $3.5m seed round backed by the university’s George Shultz Innovation Fund.
The round also includes funding from Chicago’s Edward Kaplin New Venture Challenge, as well as angel investors Joe Mansueto, and Daniel and Angela Oakey, a couple whose children have severe food allergies.
Founded in 2016, ClostraBio hopes to develop a drug that promotes intestinal bacteria in order to protect patients from the effects of food allergies, which can in some cases be fatal.
The approach is based on the idea that microbes in the intestines play a crucial role in strengthening the gut barrier, which stops allergens drifting into the bloodstream.
ClostraBio extends research co-led by Cathryn Nagler, the Bunning professor for food allergy in the biological sciences division, together with Jeffrey Hubbell, Eugene Bell professor of tissue engineering at the Institute of Molecular Engineering, and John Colson, a former postdoctoral scholar in Hubbell’s department.
The seed capital has been earmarked for pre-clinical animal testing of ClostraBio’s drug in preparation for human clinical trials.
ClostraBio received guidance from University of Chicago departments including the Polsky Center for Entrepreneurship and Innovation. The centre selected ClostraBio in 2016 for its leg of the I-Corps accelerator program, a commercialisation initiative sponsored by US government-owned research agency National Science Foundation.
John Flavin, associate vice-president of entrepreneurship and innovation at Chicago, said: “Between Cathy’s scientific discoveries and Jeff’s applied research, ClostraBio had all the makings of a successful commercial enterprise from the beginning.
“The Polsky Center has been there every step of the way to guide the ClostraBio team, from an initial discovery in a lab to a fully operational startup now with venture funding needed to prepare for clinical trials.”