Microbiome play Vedanta raises $50M

Vedanta Biosciences Inc. (Boston, Mass.) raised $50 million in a series B round. Existing investor PureTech Health plc (LSE:PRTC) supplied about $30 million, giving it a 75.4% post-money stake. Invesco Asset Management invested about $11 million, while Seventure invested $8 million via its microbiome-focused Health For Life Capital fund. Both were new investors, as was Rock Springs Capital, which also participated.

Vedanta is aiming to treat autoimmune and inflammatory diseases with bacterial formulations designed to recreate a healthy microbiome. ...