ContraFect Corporation, a New York, NY-based biotechnology company that is pioneering the use of monoclonal antibodies and lysins for the treatment of life-threatening infectious diseases, has closed two rounds of financing.
In particular, the company has closed:
– a Series A financing, led by Cary Sucoff of Equity Source Partners, LLC, raising $2.2m;
– a Series B financing, led by Maxim Group, LLC, raising $12m.
The capital will allow the company to conduct research and development, as well as to bring its first products into clinical development.
The company’s scientific approach is based on the following principles:
– Monoclonal antibodies for the treatment of life-threatening bacterial and viral diseases;
– Lysins for the treatment of drug-resistant gram positive bacteria, such as staphylococcus (MRSA), streptococcus and intestinal infections;
– Transition from conventional mono-therapy to a combinatorial approach using multi-therapy antibody and lysin treatments;
– Address the growing challenge of drug resistance and therapy escape mechanisms used by pathogens.