ANTABIO Raises €25 Million in Series B Financing
Summary
This financing expands on the prestigious historical support received by the company through past multi-million-dollar awards from the Wellcome Trust, CARB-X, and ARPEGE.This Series B will enable the company to complete the phase 2 clinical studies of MEM-ANT3310, a next generation antibacterial combination designed to provide a unique coverage of priority Gram-negative pathogens including OXA-carbapenem-resistant Acinetobacter baumannii (CRAB), KPC- and OXA- carbapenem-resistant Enterobacterales (CRE), and Pseudomonas aeruginosa (PA). We believe the therapies in Antabios pipeline will deliver significant benefits to patients and be an important tool for physicians, who are struggling to treat infections for which there are few effective treatments available, AMR Action Fund CEO Henry Skinner said. Antimicrobial resistance harms patients everywhere, and it is essential that academia, entrepreneurs, industry, governments, and intergovernmental organizations work together at the global level to incentivize solutions to the AMR crisis.Svetoslava Georgieva, Chair of the EIC Fund Board, said: The EIC Fund aims at backing European innovators in scaling their journey and Antabio is a great example of how the European Union is helping top innovators. The EIC Funds ambitious commitment, alongside other investors, is an important step to boost their efforts to find novel treatments for severe drug-resistant bacterial infection.About ANTABIOAntabio is a clinical stage biopharmaceutical company developing novel and highly differentiated antibacterial treatments of drug-resistant infections as defined by the CDC and WHOs critical priority pathogens, with a particular focus on life-threatening respiratory infections, including carbapenem-resistant nosocomial pneumonia and chronic pulmonary diseases. Antabios portfolio includes two further programs: 1) ANT3273, a groundbreaking, novel class, novel mode of action inhalation treatment of Pseudomonas aeruginosa (PA) infections, particularly those affecting patients with chronic pulmonary diseases (such as Bronchiectasis, Cystic Fibrosis and COPD); and 2) ANT2681, a novel and potent metallo beta-lactamase (MBL) inhibitor to be combined with meropenem for the treatment of MBL-producing carbapenem-resistant Enterobacterales (CRE), particularly New Delhi metallo-beta-lactamase (NDM) carrying strains.