Antabio SAS, a biopharmaceutical company developing novel antibacterial treatments in areas of highest unmet needs, announced today the completion of a €7.3M series A financing with subscriptions from investment funds iXO Private Equity, IRDI SORIDEC Gestion, Galia Gestion and from the company’s historical investors including former President of OM Pharma Christophe Ricard.
The funding will be used to accelerate the development, up to completion of Phase 1 clinical trials, of Antabio’s novel inhibitor of bacterial metallo ß-lactamases (“MBLIs”) which will be combined with a carbapenem to fill an important gap in the treatment of drug-resistant infections. This financing complements the recent CARB-X grant of up to $8,9 million awarded to Antabio in July 2017 to support the company’s Elastase Inhibitor program (PEI) for the treatment of chronic Pseudomonas infections in Cystic Fibrosis patients.
“We are delighted to welcome iXO Private Equity, Irdi Soridec and Galia Gestion to Antabio, and we are honored by the continued solid support of our historical investors” said Marc Lemonnier, CEO of Antabio. “This new financing, coupled with the non-dilutive funding recently received from CARB-X, will advance Antabio’s innovative programs into clinical studies, thereby accelerating the development of our novel approaches to treat infections caused by WHO’s priority pathogens”.
“We initiate this collaboration with the Antabio team with a lot of enthusiasm” said Jean-Michel Petit, Investment Director at IRDI Soridec Gestion. “Beyond the compelling medical need, we have been impressed with the professionalism of the team and the quality of the programs developed at Antabio, which have already earned the support of global organizations such as the Wellcome Trust and CARB-X”.