The Ghent biotech company MRM Health has suddenly moved into the spotlight after raising a record €55 million in a financing round. Under the leadership of co-founder and CEO Sam Possemiers, the company is working on a revolutionary approach: medicines made up of carefully selected bacteria. Whereas traditional treatments mostly suppress the immune system, MRM Health aims to restore the body via the microbiome, the complex ecosystem of billions of bacteria living in our intestines. The coming years will show whether this pioneering approach can break through.
Sam Possemiers, CEO of MRM Health
A record round in difficult times
MRM Health, which stands for Microbial Resource Management, managed to raise €55 million. That is an exceptional amount for a young Belgian biotech company, and all the more so in a period when the sector is under pressure. “When we started fundraising in 2024, the whole biotech sector was struggling,” says Sam Possemiers. “For the microbiome field it was even tougher, because earlier players had disappointed and investors were hesitant. It was not the best time to raise money.”
Biocodex, the French lead investor, is no stranger to the microbiome. The company has been producing Enterol, a yeast-based probiotic, for seventy years and had already invested in other microbiome companies. “When we approached them, it clicked immediately. They bring knowledge, experience, and a long-term vision. Together we also want to invest in production capacity. This is more than just money: it’s a strategic partnership.” According to the CEO, their involvement made the financing round possible. “Once Biocodex was on board, we were able to attract Athos and BNP Paribas Private Equity. Athos has shown before that it dares to invest in new therapeutic approaches, as it once did with BioNTech. For us, it was crucial that these were not short-term players, but partners willing to build with us.”
The €55 million will carry MRM Health through its next crucial phase. The majority will go to the phase 2b study of MH002. At the same time, programs in Crohn’s disease and immuno-oncology are being prepared for clinical development. “Our horizon runs to the end of 2027, early 2028,” says Possemiers. “By then we expect results from MH002 and hope to have new programs ready for the clinic. That will provide the foundation for the next stage of the company’s growth.”
The microbiome: a key player in health
The microbiome—the billions of bacteria in our intestines—remained long in the shadow of conventional medicine. It was known to aid digestion, but its broader role was underappreciated. “Only in the last ten to fifteen years has it become clear that the microbiome plays a central role in many diseases,” Possemiers explains. “When its balance is disturbed, it can lead to inflammatory diseases, metabolic disorders, and even neurological conditions.”
These insights changed the playing field. Researchers began asking whether restoring the microbiome could also treat disease. Initially, the focus was on infections, removing harmful bacteria from the gut. Later, immune diseases came into view, but the early technologies lacked refinement. For MRM Health, this was an opportunity. “We saw that the technologies at the time were not optimal for making a real impact. You have to select the right bacteria and turn them into a reliable medicine. That became our focus.”
A careful, step-by-step journey
The man behind MRM Health has been working on the microbiome for twenty years. His career began in academia, but in 2008 he founded ProDigest, a spin-off from Ghent University that provided research services to study gut bacteria and grew into a key player in the field. “ProDigest was our incubator,” Possemiers says. “We could develop technology there and experiment with ways to select and combine bacteria. This allowed us to build knowledge step by step without immediately having to launch a new drug.”
Thanks to that approach, MRM Health already had a strong foundation when it was created. “When we spun out in 2020, we could move forward immediately. We had the technology ready, a pipeline in place, and were able to start clinical trials quickly.” Why wait until 2020 to found a new company? Possemiers says timing was critical. “We wanted to wait until we had the right technology. Believing in the microbiome is one thing; turning it into a reliable drug is another. You need to be able to select, produce, and formulate bacteria in a way that is safe and reproducible.”
With MRM Health, the focus was there. And a year later, the company already launched its first clinical study. “Because we had that head start through ProDigest, we could move fast after the spin-out. That’s one of the reasons we are so far today.”
MH002: a new approach to ulcerative colitis
MRM Health’s flagship program is MH002, aimed at ulcerative colitis. This chronic inflammatory disease of the large intestine causes pain, diarrhea, bleeding, and fatigue. “Current treatments are mostly immunosuppressants,” Possemiers explains. “They shut down part of the immune system. That may work temporarily, but the immune system is also your defense. Turning it off creates side effects and only treats symptoms.”
According to him, the real cause lies elsewhere: the wrong bacteria and a damaged intestinal barrier. MH002 contains six bacterial strains that together serve three functions: restoring the microbiome, strengthening the gut lining, and rebalancing the immune system without shutting it down. “We want to address the root cause of the disease, not just the inflammation.”
Between 2020 and 2024, MRM Health conducted two clinical studies: one in ulcerative colitis and one in pouchitis, a rarer bowel disease. In both studies, MH002 proved safe. “We work with bacteria from healthy guts. These are natural products. We haven’t seen side effects. And more importantly, the first signs of efficacy were positive. In the small study of 45 patients, we already saw the mechanisms at work,” Possemiers clarifies. “That gave us the confidence to move to a larger phase 2 trial. With more than 200 patients in Europe and the US, it will need to show that the efficacy holds up in a broader population.” That trial is now underway and results are expected in 2027. “That will be a decisive moment. The data will determine our path forward.”
Coral: MRM Health’s hidden engine
One of MRM Health’s biggest breakthroughs is its Coral technology. In conventional methods, bacterial strains are grown separately, freeze-dried, and later mixed. That means as many separate production processes as there are strains—each one monitored and validated individually, with the powders only mixed at the very end. The result is a complex and costly process that is hard to scale.
“We saw that this would become a bottleneck,” Possemiers says. “That’s why we developed Coral. Instead of separately, we grow the bacteria together in a single fermentation. Then there’s one drying step, and we immediately have one powder ready for encapsulation. For the patient it’s simple: one capsule with breakfast. For us, it means a faster, more reliable, and scalable production process.”
The difference may sound technical, but it has major implications. Because all strains are produced simultaneously, the company only needs to optimize one process instead of six. That saves time, money, and reduces the risk of error. Moreover, it delivers a homogeneous final product right away. “When you have to mix ten powders, there’s always a risk of inequality between capsules. With Coral, that problem is solved from the start.”
The technology also explains why MRM Health could take a leading position in just five years. “When we started, other companies had already been at it for years,” Possemiers explains. “But because our technology optimizes both the selection of the right bacteria and their production, we could move faster.”
The platform is not only valuable internally—it also makes MRM Health attractive to partners looking to develop new products. “With Coral we can not only make MH002 efficiently, but also set up new combinations quickly. That makes it a true engine for our company: both a discovery engine and a production tool.”
More than one bet
Although MH002 is the flagship, MRM Health is building other programs too. Projects are underway in Crohn’s disease, a related bowel condition, and in immuno-oncology, where bacteria are intended to improve the effectiveness of cancer immunotherapy. “These programs are still earlier stage, but could enter the clinic by 2028. It’s important not to bet everything on one product. Our platform, as mentioned, allows us to develop new combinations quickly.”
There are also partnerships with major companies. In 2020, MRM Health struck a deal with DuPont—later IFF—on metabolic diseases. Other projects focus on animal health. “These programs are largely financed by partners. For us, that’s a way to apply our technology more broadly while spreading risk.”
And eventually, even for ulcerative colitis, a pharma partner will come into play, Possemiers acknowledges. “It’s a major indication we cannot bring to market alone. A partnership with a pharma company is logical. But our ambition remains to one day deliver a product to patients ourselves. That’s ultimately what drives us: turning the microbiome into an established therapy that changes patients’ lives.”
The risks of pioneering
Still, Possemiers sees risks. “We are pioneers. There are no large studies yet with this type of product. That means we have to blaze the trail ourselves. For investors, that’s difficult because there’s no reference. For us, it means we carry extra responsibility.”
Moreover, the entire field is in a difficult phase. “After an initial hype, there’s always some disappointment because the high expectations are not immediately met. Early technologies didn’t deliver what was hoped for. Now we have to prove that it can work. That puts extra pressure: we cannot afford half-baked results.”
Finally, Possemiers emphasizes that MRM Health’s location in Belgium is no coincidence. “Belgium is a hotspot for biotechnology. There is strong academic expertise, with universities and institutes like VIB. The entrepreneurial climate stimulates innovation. For early-stage funding, there’s good support. What’s still missing are large funds for later rounds. For really big amounts, you still have to look abroad. Hopefully that will change in the coming years.”
