MGB Biopharma Raises $1M in Financing

MGB Biopharma, a Glasgow, Scotland, UK-based biopharmaceutical company developing a novel class of anti-infectives to address the major global problem of antibiotic resistance, raised $1.15m in financing.

The round was led by Archangel Investors Ltd and included TRI Capital Ltd, Barwell plc and Scottish Investment Bank, the investment arm of Scottish Enterprise.

The company will use these funds to advance its lead product, MGB-BP-3, towards a Phase II clinical trial. The Phase II study is designed to investigate the safety and efficacy in patients with Clostridium difficile-associated disease (CDAD) caused by Clostridium difficile, including the most virulent ribotype, B1/NAP1/027.

Funded in 2010 and led by Dr Miroslav Ravic, CEO, MGB Biopharma develops MGB-BP-3, an antibacterial which is active against a broad range of important multi-resistant and susceptible Gram-positive pathogens. The company has developed an oral formulation of MGB-BP-3 for the treatment of Clostridium difficile associated disease (CDAD). With the completion of the Phase I study, MGB Biopharma is now preparing for a Phase II study for this indication. An intravenous formulation targeting the treatment of a range of systemic hospital acquired Gram-positive infections is in late-stage preclinical development, and a topical formulation for the treatment of serious skin infections showed encouraging efficacy data.

FinSMEs

06/04/2017

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