Biopharmaceutical firm Allecra Therapeutics raises EUR22m funding

Existing investors Forbion Capital Partners, Edmond de Rothschild Investment Partners, EMBL Ventures and Allecra’s co-Founder Nicholas Benedict also participated in the round.

Allecra will use the proceeds for phase 2 development of its AAI202 novel antibiotic combination designed to treat drug-resistant Gram-negative bacterial infections.

AAI202 is a combination of a ß-lactam antibiotic and a novel Extended Spectrum ß-Lactamase inhibitor.

The combination is designed for use as broad-spectrum antibacterial therapy for the treatment of hospitalized patients who contract infections caused by Gram-negative bacteria proven or suspected to express several resistance mechanisms, especially extended-spectrum ß-lactamases.

The US Food and Drug Administration has granted qualified infectious disease product status for AAI202, including eligibility for fast-track designation.

Holger Reithinger of Forbion Capital Partners, who is also the chairman of Allecra Therapeutics, said: "This Series B investment into Allecra enables pursuit of the development program of AAI202, speeding the potential availability of AAI202 to patients who need it.

"Forbion is confident that Allecra can build on the already positive results for AAI202 and has invested in excess of our pro-rata share by deploying capital from both our main fund and now also from our latest co-invest fund."

According to the Centers for Disease Control and Prevention estimates, in the US alone there are about 2 million people each year who acquire serious infections because of drug-resistant bacteria.