Ostia Sciences Inc. Secures Over $1 Million CAD in Seed Investment Round, Finalizes IP Assignment with the University of Toronto, and Prepares First Prototype for Groundbreaking Microbiome Technology

These milestones position Ostia Sciences at the forefront of oral probiotics and biotherapeutics development.

Ostia Sciences Inc., a spinout from the University of Toronto specializing in oral and respiratory microbiome solutions, has successfully raised over CAD $1 million in its seed round and secured full intellectual property (IP) transfer from the university. “With full IP ownership and new funding, we’re ready to accelerate development of our SALI-10 probiotic,” added CSO Dr. Michael Glogauer. The company aims to close the round with an additional $700,000 by December 2024.

This funding will support the development of its SALI-10 probiotic, based on its phosphorylated lantibiotic technology, which is ready for clinical trials targeting respiratory and oral diseases in early 2025. These milestones will enable Ostia to partner with leading contract development and manufacturing organizations (CDMOs) to scale production.

With full IP ownership, Ostia can independently advance research and development, solidifying its position as a leader in the emerging “Bugs to Drugs” biotherapeutic field. The investment will further research, clinical trials, and manufacturing as Ostia brings its innovative therapies to market.

“Our new phosphorylated lantibiotic technology offers targeted antimicrobial and pro-immune benefits that are unprecedented in the market,” said CEO Dr. Abdelahhad Barbour. “This seed round will allow us to expand our discovery pipeline, and with our first prototype ready for clinical trials, we are well-positioned to drive our vision forward.”

For more information about Ostia's funding and structure, please visit our company profile through our exempt market dealer (EMD), Equivesto.

About Ostia Sciences Inc.

Ostia Sciences Inc. is a Toronto-based biotech company specializing in the development of innovative oral probiotics and biotherapeutics. Through cutting-edge research and a commitment to microbiome science, Ostia Sciences is dedicated to improving global health outcomes with impactful biotherapeutic solutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241001869494/en/