Kaleido Biosciences, formed by Flagship Pioneering as part of a wave of biotech companies developing microbiome therapies, has laid off its entire workforce and is winding down operations. The shutdown follows a strategic review that failed to turn up any deals to support its clinical-stage pipeline.
The FDA issued a warning letter to Kaleido Biosciences alleging the company tested its experimental microbiome product in Covid-19 patients without submitting a formal clinical trial application. Kaleido claims the filing was not required because the product is a medical food, but the regulator doesn’t buy that argument.
Hear executives from Quantum Health, Surescripts, EY, Clinical Architecture and Personify Health share their views on digital transformation in healthcare.
The report also showed 1H18 VC funding already nearly equaled investment in 2017. That's consistent with Silicon Valley Bank's findings on Series A rounds last month.
Massachusetts-based Kaleido Biosciences has brought in $101 million in Series C funding to advance its microbiome-targeting therapeutic pipeline.