# Metagen Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/metagen-therapeutics

- Industry: Biotechnology
- Headquarters: Tsuruoka, Japan
- Website: www.metagentx.com
- Total disclosed funding: $40M
- Latest round: Series B (Sep 4, 2026)
- Investors on record: 20

## About

Founded in 2020 and based in Yamagata, Japan, Metagen Therapeutics, Inc., a pharmaceutical company that engages in the research and development of new drugs and medical treatments using cal microbiota transplantation (FMT). The company combines proprietary paired metagenomic datasets with AI/ML-driven donor-recipient matching to advance precision microbiome medicine across ulcerative colitis, immuno oncology, and neurodegenerative disease. It leverages a cross-border regulatory strategy spanning PMDA and FDA pathways, positioning it as a platform bridging Japanese clinical innovation with global market access. In September 2026, Metagen Therapeutics raised JPY 500 million in Series B funding from 15th Rock, Tokai Innovation Institute and GLIN Impact Capital.

Metagen Therapeutics provides microbiome-based healthcare and drug discovery solutions focused on gut bacteria. Its services include fecal microbiota transplantation (FMT) programs, stool donor screening and management platforms, and clinical development of microbiome-derived therapeutics. The company operates stool donation facilities, partners with hospitals for donor-based treatments, and develops innovative pharmaceuticals targeting diseases through microbiome modulation. Additionally, it offers research collaborations and medical services aimed at advancing patient care through microbiome science.

The company plans to use the September  2026 funding to develop microbiome-based therapies and drugs, advance clinical trials, and expand its manufacturing and supply chain capabilities.

## Funding rounds

- Series B, Sep 4, 2026, $3.2M — 15th Rock, GLIN Impact Capital, Tokai Innovation Institute
- Series B, Feb 25, 2026, $7.7M — Nippon Venture Capital, Global Brain, Tokai Tokyo Investment, MIRAIDOOR, Medipal Holdings Co., Ltd, Fujita Innovation Capital, MatsukiyoCocokara & Co.
- Series B, Sep 8, 2025, $16M — JAFCO Group, Japan Bank for International Cooperation, SMBC Venture Capital, Mizuho Capital, SPARX Asset Management, Dentsu Ventures, Fast Track Initiative, Keio Innovation Initiative, Miraisozo Investments, JIC Venture Growth Investments
- Series A, Jun 15, 2023, $4.3M — Nippon Venture Capital, SMBC Venture Capital, Mizuho Capital, SPARX Asset Management
- Series A, Apr 5, 2023, $8.3M — JAFCO Group, Fast Track Initiative, Keio Innovation Initiative, JIC Venture Growth Investments
- Seed, Mar 17, 2021, $0.8M — Fast Track Initiative, Keio Innovation Initiative

## Investors

- Fast Track Initiative (https://capitalatlas.ai/funds/fast-track-initiative) — Seed, Series A, Series B
- Keio Innovation Initiative (https://capitalatlas.ai/funds/keio-innovation-initiative) — Seed, Series A, Series B
- JAFCO Group (https://capitalatlas.ai/funds/jafco-group) — Series A, Series B
- JIC Venture Growth Investments (https://capitalatlas.ai/funds/jic-venture-growth-investments) — Series A, Series B
- Nippon Venture Capital (https://capitalatlas.ai/funds/nippon-venture-capital) — Series A, Series B
- SMBC Venture Capital (https://capitalatlas.ai/funds/smbc-venture-capital) — Series A, Series B
- Mizuho Capital (https://capitalatlas.ai/funds/mizuho-capital) — Series A, Series B
- SPARX Asset Management — Series A, Series B
- Japan Bank for International Cooperation — Series B
- Dentsu Ventures (https://capitalatlas.ai/funds/dentsu-ventures) — Series B
- Miraisozo Investments (https://capitalatlas.ai/funds/miraisozo-investments) — Series B
- Global Brain (https://capitalatlas.ai/funds/global-brain) — Series B
- Tokai Tokyo Investment (https://capitalatlas.ai/funds/tokai-tokyo-investment) — Series B
- MIRAIDOOR (https://capitalatlas.ai/funds/miraidoor) — Series B
- Medipal Holdings Co., Ltd — Series B
- Fujita Innovation Capital (https://capitalatlas.ai/funds/fujita-innovation-capital) — Series B
- MatsukiyoCocokara & Co. — Series B
- 15th Rock (https://capitalatlas.ai/funds/15th-rock) — Series B
- GLIN Impact Capital (https://capitalatlas.ai/funds/glin-impact-capital) — Series B
- Tokai Innovation Institute (https://capitalatlas.ai/funds/tokai-innovation-institute) — Series B