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news.Phico Therapeutics, a biotechnology company developing treatments for drug-resistant 'superbugs,' has raised GBP1.8m from their recent funding round of institutional investors and business angels.
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Phico has raised more than GBP3.7m during the last 12 months, bringing the total investment in the company to date to approximately GBP9m.
Phico’s technology, known as SASPject, works by using an antibiotic protein SASP to inactivate the DNA of targeted harmful bacteria. Phico is in clinical trials in humans with its product, aimed at eliminating Staphylococcus aureus, including MRSA, from the nose. The application is an important part of controlling infection in hospital.
The Phase I trial, and the upcoming Phase II clinical trial with its product, PT1.2, are funded by GBP1.03m Strategic Translation Award from the Wellcome Trust. The new money will be used to support the clinical development programme of PT 1.2 and will also fund the continuing development of the SASPject platform to treat infections due to other important pathogens, including Gram negative organisms and Clostridium difficile, all common causes of infection in hospitals.
Phico’s technology is biologically designed to target the selected range of pathogenic bacteria so that helpful good bacteria are left unharmed. Furthermore, no mechanism has yet been identified by which bacteria can become resistant to SASP. The SASPject technology could form the basis of a new class of antibiotics.