Seres proposes $100M IPO

Microbiome company Seres Therapeutics Inc. (Cambridge, Mass.) filed to raise up to $100 million in an IPO on NASDAQ underwritten by Goldman Sachs; BofA Merrill Lynch; Leerink; and Canaccord Genuity.

In mid-2016 Seres expects data from a Phase II study of lead candidate SER-109 to treat recurrent Clostridium difficile infections. Seres discovered the orally available mixture of undisclosed bacteria using its Ecobiotic platform, which identifies the physiological condition of the microbiome in a healthy person, compares it to the condition in a sick person and determines what organisms could be added to convert the diseased microbiome back to a healthy state (see BioCentury, June 16, 2014). ...