Antabio SAS, a Labège, France-based biopharmaceutical company developing novel antibacterial treatments, extended its Series A financing round with an additional €5.2m.
The additional funding was subscribed by investment funds Omnes, BNP Paribas Développement, and Sham Innovation Santé (Turenne Capital) with wxisting shareholder Galia Gestion also participating in this extension.
In October 2017, Antabio announced a first closing of its Series A financing round for €7.3m subscribed by investment funds iXO Private Equity, IRDI SORIDEC Gestion, Galia Gestion and Antabio’s historical investor and former President of OM Pharma Christophe Ricard.
The second closing brings the total raised in Series A to €12.5m.
The new funding will be used to accelerate the development of Antabio’s novel inhibitor of bacterial metallo ß-lactamases (“MBLs”) which will be combined with a carbapenem to fill an important gap in the treatment of drug-resistant infections.
The €12.5m series A financing complements the CARB-X grant of up to $8.9m awarded to Antabio in July 2017 to support the company’s Pseudomonas Elastase Inhibitor program (PEI) for the treatment of chronic Pseudomonas infections in Cystic Fibrosis patients.
Led by Marc Lemonnier, CEO, Antabio is a biopharmaceutical company developing novel antibacterial resistance-breakers to treat drug-resistant infections in areas of highest unmet medical need. Two of Antabio’s programs have received Wellcome Trust Seeding Drug Discovery Awards to date:
(i) a novel, safe and efficacious inhibitor of bacterial metallo ß-lactamases to be combined with a carbapenem for the treatment of drug-resistant nosocomial infections and
(ii) a first-in-class inhibitor of Pseudomonas virulence to be co-administered with standard-of-care antibiotics for the long-term management of chronic respiratory infections.
The company’s lead product is expected to enter the clinic in 2019 with anticipated fast track approval.