Fauna Bio Incorporated

Fauna Bio Incorporated, based in the US, specializes in innovative drug discovery using genetic data and animal models to develop therapies aimed at treating chronic diseases such as obesity and metabolic disorders. Founded in 2018 and headquartered in Emeryville, California, Fauna Bio focuses on drug discovery by utilizing genetic data and proprietary technology. The company is co-founded by Ashley Zehnder and Linda Goodman, with Zehnder serving as the CEO. Fauna Bio has successfully completed 4 deals, with the most recent funding round occurring on September 21, 2021, raising USD 9.

14 mn in a SEED round led by LifeForce Capital and other notable investors. The total amount raised by the company amounts to USD 9. 14 mn, with a current valuation of USD 26. 31 mn.

Fauna Bio specializes in drug discovery, utilizing its proprietary platform, Convergence™, to develop therapies targeting natural disease resistance observed in animal models. The company focuses on creating treatments for obesity, metabolic disorders, and muscle preservation by studying physiological adaptations in species like the tenrec and elephant seal. The end users of these therapies include healthcare providers, patients with chronic diseases, and pharmaceutical companies seeking to enhance their drug portfolios. Fauna Bio is targeting a global market with significant healthcare needs, particularly in North America, Europe, and parts of Asia.

Fauna Bio's revenue generation strategy revolves around partnerships with major pharmaceutical companies, including a significant agreement with Eli Lilly, which involves an upfront payment, equity investment, and potential milestone payments totaling up to USD 494 mn. Their B2B model focuses on strategic collaborations that provide access to their Convergence™ platform for drug target identification, translating into financial agreements based on discovery milestones and resulting product royalties. While specific financial details of their service pricing have not been disclosed, the market opportunity suggests a strong potential for revenue growth through these partnerships. Following the recent SEED funding round on September 21, 2021, which raised USD 9.

14 mn, Fauna Bio plans to utilize the capital to expand its computational and research teams, alongside hiring an experienced drug development professional to oversee internal program development and partnerships. The company is working on upcoming products that will enhance its therapeutic capabilities and is looking to expand its reach into new markets, specifically targeting increased operations in North America and Europe by 2023.