Microbion Corporation, a Vancouver, BC and Bozeman, MT-based clinical stage biopharmaceutical company, raised US$25m in funding.
Quark Venture Inc., a Vancouver-based health sciences venture capital firm, made the investment through its Global Health Sciences Venture Fund.
Led by Karim Lalji, Chairman & Chief Executive Officer, Microbion specializes in the treatment of antibiotic-resistant infections via MBN-101, tts lead compound which attacks both bacteria and related microbial biofilms. This dual antimicrobial action provides a novel clinical approach to treating infections.
The company intends to use the funds to initiate and complete a Phase 1B/2A study in diabetic foot ulcer infections evaluating both safety and efficacy endpoints including eradication of infections and of biofilms. In 2016, the U.S. Food and Drug Administration (FDA) granted MBN-101 Qualified Infectious Disease Product (QIDP) and Fast Track designations for adjunctive treatment of moderate and severe diabetic foot ulcer infections.