15th Rock backs gut-microbiome and pig-organ startups via Hokkaido University fund
What's the deal? Japanese venture capital firm 15th RockDealroom has a profile for this one. Try Dealroom → has invested in Metagen Therapeutics and US-based eGenesis through its Hokkaido University Green Frontier Fund 1Dealroom has a profile for this one. Try Dealroom →. Both companies have personnel and business ties to Hokkaido University and are working to bring next-generation medical technologies to market.
The fund: The Green Frontier Fund is a university-linked vehicle formed under an agreement between 15th Rock and Hokkaido University. It targets four priority areas: agri-food tech, clean tech, semiconductors, and human augmentation.
Who are the startups? Metagen Therapeutics is a university spinout founded in January 2020 and based in Tsuruoka, Yamagata. It develops faecal microbiota transplantation (FMT), moving healthy donors' gut bacteria into patients to rebuild balanced microbiomes.
eGenesis, based in Cambridge, Massachusetts, develops genome-edited pig organs adapted for human transplant. It uses multiplex CRISPR to cut cross-species infection risk and hyperacute rejection, with kidney transplants as its lead programme.
Why now? Metagen began a clinical trial in May 2026 for ulcerative colitis patients using an FMT drug made from Japanese donors' gut bacteria — a first for both Japan and the US. It also researches applications in gastrointestinal cancer and Parkinson's disease.
eGenesis is likewise advancing. In Japan, a startup is set to reproduce its genome-edited donor pigs via cloning, with Hokkaido University Hospital and others aiming to start a xenotransplant trial in 2028.
What's the endgame? The fund said it evaluated both companies' technology, clinical progress, and global growth potential before deciding to invest. It aims to support their business growth and the social implementation of next-generation medicine.
The signal: The bets sit at opposite ends of a shared ambition — reengineering the body's systems to solve worldwide medical shortages, from microbiome-based therapies to organs grown outside the human supply chain. Both companies lean on Hokkaido University research, underscoring the growing role of academic spinouts in Japan's deep-tech venture pipeline.
Image credit: 15th Rock Ventures
