Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesToday, the European Investment Bank and AntibioTx A/S, a private Danish biotech company, signed a EUR 20m loan agreement to develop the first treatment from a potentially new class of antibiotics. This EIB operation is supported by “InnovFin – EU Finance for Innovators”, a new generation of financial instruments for innovative and growth companies, with the financial backing of the European Union under Horizon 2020 Financial Instruments.
Multi-drug resistant bacteria are an increasing global public health concern. They threaten our ability to treat common infectious diseases, resulting in prolonged illness, disability, and even death.
“Since the 1970’s only a few new antibiotic classes have been introduced,” said EIB Vice-President Alexander Stubb. “Therefore we are proud to support AntibioTx’ clinical development, which we hope will make a difference in fighting multi-drug resistant bacteria.”
AntibioTx has identified and patented a new class of antibiotics, which will potentially contribute to addressing current and future problems of antibiotic resistance. Studies have demonstrated that AntibioTx lead compound effectively overcomes current multi-drug resistant bacteria and clearly exceeds current, marketed antibiotics in delaying the onset of new resistance.
Specifically, the EIB loan will co-finance late-stage clinical trials for treatments of skin infections, based on AntibioTx’ patent portfolio.
“The financing from EIB provides valuable support to the development of our pipeline contributing to our vision to becoming a sustainable innovator of treatment options at the intercept of microbiology and immunology,” said AntibioTx CEO Rasmus Toft-Kehler.
Carlos Moedas, European Commissioner for Research, Science and Innovation, said: “SMEs drive the innovation needed to combat antimicrobial resistance. To bring their ideas to the patients, they need funding that is often difficult to obtain. I am delighted that Horizon 2020, EU’s research and innovation programme, is helping these companies advance their clinical research and ultimately improve people’s health.”
Original source: EIB
Published on 26 October 2017