Metagen Therapeutics is a Japanese university-spinout (Juntendo, Keio, Tokyo Tech) founded in 2020 that leverages microbiome science to create both drug products and FMT-based medical services. Its lead oral FMT candidate, MGT-006, targets ulcerative colitis and is scheduled to enter a Japan-U.S. Phase 1/2 international trial between April and June 2026. Clinically, the company has already demonstrated a 45.9 % remission-induction rate with its antibiotic-assisted FMT procedure in an advanced medical B program, with no serious adverse events observed. Additional clinical studies are under way for gastrointestinal cancers (MGT-007) and Parkinson’s disease (MGT-008). An in-house “donor stool bank” in Yamagata has collected more than 800 donations, supporting both clinical trials and eventual commercial supply. The firm also promotes social adoption of stool donation (“献便”) to secure a stable supply chain for its therapies. Cumulatively, the company has raised ¥5.46 billion, providing runway for pipeline advancement, supply-chain optimization, head-count growth and IPO preparation.

Total raised

$35M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2026