Legend Capital’s Portfolio Company Xbiome Acquires Clinical-Stage Program Targeting Ulcerative Colitis

Legend Capital’s portfolio company Xbiome Inc., an industry-leading and AI-driven microbiome therapeutics company, recently announced that it acquired the clinical-stage M201 program from Assembly Biosciences, Inc., a clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus and other viral diseases.

Founded in 2017, Xbiome is an industry-leading and AI-driven microbiome therapeutics company focusing on tackling unmet medical needs through various modalities of microbiome therapeutics. The acquisition has reflected Xbiome’s leading position in the rising field of microbiome therapeutics and has added a third clinical-stage program to Xbiome’s rapidly growing pipeline.

The M201 program is designed for patients with mild to moderate ulcerative colitis. Xbiome will develop M201 leveraging its AI and data platform; it is expected to commence the M201 Phase 1b clinical trial in 2022 in the US and the program will become part of Xbiome’s Global Innovation Center, where Xbiome will work closely with its global technology team in Europe and Asia in order to enhance and support the continued development of M201.

Yan Tan, Founder and Chief Executive Officer of Xbiome, said: “This acquisition demonstrates our commitment to developing an enhanced treatment for ulcerative colitis, as well as our broader commitment to strategically growing our pipeline to pioneer medical breakthroughs. The announcement marks a pivotal step in Xbiome’s continued global impact as an industry leader in AI-driven microbiome therapeutics and the expansion of our recently established Global Innovation Center. We look forward to progressing the M201 clinical trial in the US in the very near future.”

Legend Capital led Xbiome’s Series B financing round in 2019 and continued to support the company’s development by following up in its Series B+ financing round in 2020. Closely following the deep integration of the medical and health industry and technology, Legend Capital has built a solid portfolio in the medical AI sector in recent years. In addition to Xbiome, Legend Capital also invested in a number of other leading medical AI companies, such as StoneWise, an AI technology-driven innovative drug R&D platform company, Lunit & Deepwise Healthcare, AI medical imaging companies, Deep Informatics++, an AI medical pathological diagnosis company, Genome Wisdom, a genomic big data company, and Ayshealth Technology, an AI medical chronic disease management system company.