On 8 March 2021, Chardan hosted virtually its 3rd Annual Microbiome Medicines Summit (CMMS 2021). CMMS 2021 featured 16 public and private companies, across subsegments of the microbiome space (e.g. live biotherapeutic products, functional modulators, diagnostics, and contract development and manufacturing). Presentation replays as well as access to Chardan's summary note on the summit may be requested by emailing corpaccess@chardan.com.

Presenting companies included:
4D Pharma plc (DDDD.LN)
Arranta Bio (Private)
Azitra (Private)
BiomX (PHGE)
Eligo Bioscience (Private)
Enterin, Inc. (Private)
Enterome (Private)
Evolve BioSystems (Private)
Forte Biosciences (FBRX)
Kaleido Biosciences (KLDO)
Micronoma (Private)
Novome Biotechnologies (Private)
Senda Biosciences (Private)
Seres Therapeutics (MCRB)
Synlogic (SYBX)
Vedanta Biosciences (Private)

Important themes, per Chardan research, from the 16 microbiome companies are below. To request the full note, please email corpaccess@chardan.com.

• Momentum in the space is gathering rapidly, as evidenced from company formation. CDMO Arranta Bio, from its position of providing essential services that enable pipeline development efforts across a number of players, cited the growing number of companies (~400 today vs. ~200 2 years ago) and investment in the space. Arranta is thus seeing a significant increase in discussions with companies now focused on the MM space, including a number that are still in stealth mode.
• Many MM companies are seeking platform validation by targeting indications with well-established causal links between the microbiome and disease pathology (e.g. recurrent C. difficile infection, rCDI). Similarly, some companies, such as Synlogic have focused on using LBPs to consume specific gut metabolites (e.g. phenylalanine or oxalate) in indications where dietary intervention has a known therapeutic effect, since reversing disease pathology using microbiome medicines (MMs) then provides a relatively unambiguous proof-of-concept. Successful readouts in these programs may enable companies to more aggressively pursue indications in which the role of the microbiome is less established.
• Early work on causal links will only fuel more promising targets for years to come. For example, as more data is produced from metagenome-wide association studies and from better mathematical modeling as a tool to understand and predict complex biological interactions in microbial communities, knowledge will increase on new causality relationships between the microbiome and major diseases and/or the best therapeutic approaches to affect change.
• Other hidden value: Investors may under-appreciate the breadth of MMs applications, which range from rCDI and select inflammatory disorders (near-term), to cardiovascular disease, neurodegeneration, diabetes, obesity, and others (longer-term).