Panacea Stars Alumni: BioMe Oxford Ltd
Company Name: BioMe Oxford Ltd
Website: https://www.biome-oxford.com
Cohort: Develop 2016 SS
What is your business about? What is the problem you are trying to solve? What is the market you are addressing?
BioMe Oxford Ltd. is a UK-based startup with focus on novel sampling technologies relating to the human gut microbiome. The microbiome is the immense collection of microorganisms inhabiting our gastrointestinal tract. Importantly, an ever-increasing number of studies have established links between human disease and variations within this bacterial population. However, existing technologies and methods currently under development for microbiome sampling all represent a trade-off between accuracy and cost-effectiveness that make them unsuitable for wider healthcare applications.
To address this unmet need, we are developing our patented BioCapture™ technology. BioCapture™ is a small, ingestible capsule that allows us to collect a sample of the microbiome directly within your body, in a targeted manner that is reliable, minimally-invasive, and affordable. Due to the expected low cost of production, this technology will be cost-effective and ideally suited for large-scale application. Our goal is to catalyse a transformation of the gut microbiome field, in both research and healthcare, where researchers, medical practitioners, and healthcare providers can use BioCapture™ technology to increase our knowledge of the impact of microbiome-related diseases, to improve and accelerate diagnostic measures, and to further develop potential treatments.
What is your background? How did you found/find your team?
Our management team and advisory board combine a strong scientific background with clinical and business development expertise in areas relevant to commercialising the microbiome. At the start, most of us were PhD students at the University of Oxford, where each of us specialised in different areas of medical and health-related research. Given our shared motivation to make a significant impact by translating medical research, we combined our interests and strengths to start BioMe Oxford Ltd.
The driving force behind our business ambition was Soren Thomsen, who has been our CEO since the start, steering us to where we are today. Soren was key to the formation of the company and has continued to motivate us as a team to keep going, despite going through some difficult times at the outset of our startup endeavour. The foundation for our goal as a company was identified by Agnieszka Chomka, our Head of R&D. Agnieszka completed her PhD in intestinal immunology at the Kennedy Institute at the University of Oxford. Through her research work, she realised the limitations of our current understanding of the human gut microbiome, its implications for overall health, and the enormous unmet need for accurate gastrointestinal sampling technologies. Her ideas, combined with the scientific ambition of Natasha Ng, became the foundation upon which we built the company. Natasha has a PhD in medical sciences with a focus on diabetes research. Her interest in the underlying molecular mechanisms of metabolic diseases directed us towards having a strong medical focus and the impetus to improve the ways in which we can predict and diagnose disease. Our Head of Technology, Patrick Albers, brought our ideas closer to reality. Patrick is a Statistical Geneticist who did his PhD in Genomic Medicine and Statistics at the Wellcome Centre for Human Genetics and the Oxford Big Data Institute. His direct knowledge of state-of-the-art analytical methods and the interplay between research and applied medical science gave us the means to make our technology both reliable and future-proof. Patrick also contributed his experience as an entrepreneur, as he previously founded and led a company to successful exit through acquisition in Germany. Another essential ingredient, for a young and ambitious company like ours, is contributed by Rasmus Poulsen, our Head of Finance. Rasmus is an economist who trained at the University of Copenhagen. He is a founding member who joined our team to transform the idea of BioMe Oxford Ltd. into a viable business.
What stage is your company at right now?
We recently received investment through a strategic partnership with DuPont Microbiome Venture — part of the DowDuPont organisation. To continue further product development and optimisation, we closely work together with the Medical Advanced Manufacturing Research Centre (AMRC), which is part of the High Value Manufacturing catapult in Sheffield, and with whom we have a long-standing academic partnership. To gather the expertise that will allow us to tackle future challenges, we have been building our board of directors. We have, for example, recruited Dr Chrstian Groendahl into our ranks, who joined us as a non-executive director with relevant scientific and business expertise. Dr Groendahl has more than 20 years of experience in the pharmaceutical industry and the biotech sector, previously held research and corporate roles, and served as a co-founder and director of numerous biotech startups in the microbiome field. We are always eager to hear from organisations or individual investigators who might have an interest in using our BioCapture™ technology when it becomes available for commercial use. While being some time away from marketing our device, it is never too early to begin thinking about potential partnerships and early-access programmes.
Which year did you join Panacea Stars? How did Panacea Stars help you? What impact did Panacea Stars have on your company’s development?
We had the opportunity to join Panacea Stars at its inauguration in 2016, where we reached the final. Due to the exposure we received while in the competition, the story around BioMe Oxford Ltd. quickly reached a wider audience. Shortly after, we ranked among the top biotech startups coming out of Oxford. For our startup, this level of exposure was essential, as it allowed us to grow our network and gain traction with key investors in the biotech field. In our run-up to the final of Panacea Stars, we received the support of experienced mentors who helped us to further develop our business strategy. We were impressed by the amount of attention we received, and by the number of business contacts we were able to make.
Any advice for the selected teams on how they should make full use of Panacea Star’s offering?
Participating in Panacea Stars has been very positive for us. Our advice to other startups entering the competition is to quickly become fully involved. While it is generally beneficial to think competitively and act with conviction, the mentors, advisers, and eventually the panel of judges you interact with will bring substantial and valuable real-world expertise. It was both humbling and inspiring to hear their advice and understand the realities behind your business idea. The mentors are experts in their fields who volunteer their valuable time to provide feedback and help you along the way. They are also the first hurdle to pass, as you will need to pique their interest in your business. They not only want to hear your ideas but also help you to expand your network to make your business a success. Pushing your company to achieve its goals can be a very exciting and rewarding experience. Having the opportunity to participate in Panacea Stars can make a difference, especially for an early-stage company. We at BioMe Oxford Ltd. wish everyone participating in this competition the best of luck and, again, thank the organisers for providing such a supportive platform.
