Phagelux, Inc., a Shanghai-based anti-bacterial company, raised $10m in Series A funding.
Both existing and new investors participated in the offering.
The company intends to use the funds to move its development programs forward, acquiring some additional assets, and starting to commercialize its first programs. It expects that the first two solutions coming out of its AgriHealth division will finish the regulatory approval process in certain markets by either the end of this year or early next year with commercialization in those markets starting in 2016.
Led by Mark Engel, Chairman, Phagelux is developing anti-bacterial solutions across multiple fields utilizing various phage and phage-based technologies and solutions. It has both HumanHealth and AgriHealth divisions.
The company has laboratories in China and North America and a factory under construction in China.