Huge funding of €1.5 Million has been offered to UK-based biotech firm, Procarta Biosystems, for facilitating the development of novel therapies to fight against antimicrobial resistance (AMR).
The financial support arrives from the Novo Holdings REPAIR Impact Fund with the aim of development of a totally different class of antibiotic precision drugs by Procarta. This new division of antibiotic-based medicines will be generated through the oligonucleotide-based antimicrobial platform of Procarta.
The lead asset of the firm, PRO-202 is still under preclinical development to cure complicated intra-abdominal infections (cIAI) and complicated urinary tract infections (cUTI).
Several pathogenic organisms are responsible for significantly causing cIAIS and cUTIS, which includes Staphylococcus aureus, Enterococcus faecium, Enterobacter species, Acinetobacter baumannii, Pseudomonas aeruginosa, and Klebsiella pneumonia. These species have the ability to cause greatest risk of antibiotic resistance among all the clinical infections.
Enterobacteriaceae species resistant to carbapenem are extremely harmful to people, as the bacteria after entering the bloodstream has the potential to kill almost half of the patients.
Procrarta’s CEO, Dr. Andrew Lightfoot stated that the funding of €1.5 Million is a collaborative effort of REPAIR Impact Fund, Wren Capital, the UK Innovation & Science Seed Fund (UKI2S), Development Bank Wales, and Meltwind. The investment will be utilized in the development of the firm’s lead asset, PRO-202, and its exclusive drug discovery platform to generate a class of antimicrobial agents to mask the life-threatening pathogens.
Director of the REPAIR Impact Fund, Aleks Engel said that Procarta’s proprietary transcription-factor induced antimicrobial platform is exactly the kind of novel modality that the investment provider hoped for. After finding this model around a year back, the firm approved the funding. It has been visualizing the technology to have a huge potential as the foundation for novel approaches to innovative development in therapeutics regarding contagious disease and beyond.