The Venture Codex

Led · Equity · Aug 2026

Vedanta's lead program, VE303, is an orally administered live biotherapeutic product comprising a defined consortium of eight bacterial strains, developed to prevent recurrent Clostridioides difficile infection. VE303 is produced from pure, clonal bacterial cell banks to yield a standardized powdered drug product and has received FDA Orphan Drug designation (2017) and Fast Track designation (2023). The registrational Phase 3 RESTORATiVE303 trial is randomized, double-blind and placebo-controlled with a 2:1 randomization and a primary endpoint of CDI recurrence rate at Week 8. RESTORATiVE303 is enrolling across more than 150 sites in about 20 countries, has passed a DMC interim analysis recommending continuation, and is expected to complete enrollment in H2 2026 with topline data in H1 2027. Vedanta is funding the trial through the recent $60M financing package and supplemental BARDA funding. The company intends the RESTORATiVE303 study to form the basis for a Biologics License Application to the U.S. FDA.

Participated · Series C · Jul 2026

Trellis Bioscience uses a proprietary technology to clone human antibodies from white blood cells and develops native human monoclonal antibodies to address difficult infectious diseases. Its lead program, calpurbatug (TRL1068), is an investigational monoclonal antibody aimed at disrupting biofilms and is in a Phase 2 trial for chronic prosthetic joint infections. The company also has a pipeline of antiviral antibodies, one of which is in a clinical trial. Trellis highlights that human antibodies have a lower toxicity-related failure rate than other drug classes and that its discovery approach isolates antibodies from recovered patients. The company is based in Redwood City, CA. To date Trellis has raised approximately $35 million in equity, complemented by a comparable amount of non-dilutive grant funding from NIAID and CARB-X.

Led · Series A · Jul 2026

Telum Therapeutics, founded in 2019, is developing protein-based antimicrobial therapies using its proprietary APEX platform. Its lead programme targets severe infections caused by Acinetobacter baumannii, specifically hospital-acquired and ventilator-associated bacterial pneumonia (HABP/VABP). The company plans to use the Series A proceeds to complete Phase 1 clinical development of the lead candidate and to advance its broader pipeline against both Gram-negative and Gram-positive pathogens. Telum positions its approach as potentially overcoming limitations of existing antibiotic treatments. No revenue, user, or other operating metrics were disclosed in the announcement. The company highlighted support from both public and private Spanish and international investors as part of its financing.

Led · Series A · Feb 2026

Centauri Therapeutics is developing next-generation immunotherapies based on its proprietary Alphamer® technology, which recruits the body’s immune system to fight pathogens. Its lead programme, ABX-01, has yielded CTX-187, a broad-spectrum antimicrobial designed to combat clinically prevalent and drug-resistant Gram-negative bacteria through complement activation, opsonophagocytosis and intrinsic antibacterial activity. CTX-187 is currently being readied for first-in-human trials, with the new funding earmarked to complete Phase I studies and prepare for Phase II. Since 2019 the company has received non-dilutive support from CARB-X to move the programme from lead optimisation to the preclinical stage and, in 2024, it won a grant from the PACE-AMR initiative. Centauri closed an initial £24 million Series A in January 2022 backed by Boehringer Ingelheim Venture Fund, Evotec SE and Novo Holdings REPAIR Impact Fund. The latest £6 million investment extends the Series A to £30 million, strengthening the firm’s financial position to advance its clinical pipeline. Dr. Henni-Karoliina Ropponen of AMR Action Fund has joined the board, adding sector expertise as the company moves toward clinical validation.

Participated · Series B · Oct 2025

Peptilogics is a clinical-stage biotechnology company focused on creating a new class of surgical therapeutics to address infections associated with implanted orthopedic hardware. Its lead candidate, zaloganan (PLG0206), rapidly penetrates biofilms to eradicate bacteria that standard antibiotics cannot reach and is the first drug specifically aimed at prosthetic joint infections (PJI). In a Phase 1b study, 13 of 14 patients (93%) remained infection-free 12 months after treatment, prompting the company to advance into a 240-patient Phase 2/3 pivotal trial scheduled to begin in December 2025. Zaloganan has secured QIDP, Orphan Drug, and Fast Track designations from the FDA, affording potential regulatory and market exclusivity advantages. The medical need is large: roughly 45,000 U.S. PJI cases occur annually, each costing health systems up to $390,000, and current surgical approaches fail up to half the time. Peptilogics has raised approximately $120 million in equity funding to date, in addition to significant non-dilutive grants from CARB-X, to finance its clinical and commercial plans.