27.06.2019 10:56:10 –
Access to the antibiotic crisis is funded by an additional million euros
Vienna, June 27, 2019: The Vienna biotechnology company PhagoMed Biopharma GmbH today announced the closure of another funding round. The company based in Vienna is involved in the development of phagemic drugs. For these particular viruses (fages), they are used to treat multi-resistant bacterial infections. Promising approach to addressing the anti-biotic crisis has now given private investors $ 1.5 million worth of investment that the company is investing in further developing three drug candidates.
PhagoMed Biopharma GmbH (PhagoMed) is working on finding solutions to the world's antibiotic crisis, increasing resistance to these powerful drugs. The company develops drugs based on natural viruses that only attack and destroy bacteria known as fage. Because of their ability to eradicate bacteria in a targeted manner, they offer a promising approach to creating new ways to treat multi-drug resistant infections. For example, co-founders of PhagoMed have successfully applied the phage in experimental healing tests in Germany.
Last year, PhagoMed managed to raise more than 4m euros in private investment and public funding and start research activities at the Vienna Biocentre. The company has now announced further investment of 1.5m euros, available from existing and new investors.
"Since we started our research activities in May 2018, we have already identified certain drug candidates and are currently testing them in animal studies. The results obtained so far have convinced our existing and new investors to further fund our research and development, "said co-founder and co-founder of PhagoMed Alexander Belcredi. "Additional seed investments now enable us to continue to increase our team and invest significant investments into our infrastructure."
The company considers the use of phage for the treatment of infected artificial joints, such as esp. Hip replacement. Infections of these millions of used prostheses are already difficult to cure because they are often caused by multi-resistant bacteria. They also often form a so-called biofilm coating, which can further reduce the effect of antibiotics. Especially in such infections, phage are a promising alternative because the phages are capable of breaking bacterial biofilms and thus killing bacteria resistant to multiple drugs. One of the three drug candidates identified by the company is the target of this application and is currently being evaluated in animal studies. PhagoMed plans to launch the first clinical trials to cure implants associated with implants in 2021.
About PhagoMed Biopharma GmbH
PhagoMed Biopharma GmbH is a biotechnology company specializing in the development of approved therapeutic applications in phage therapy. PhagoMed is currently working on three development programs in three different indications: implant-related infections, urinary tract infections and bacterial vaginosis. These programs are based on the experience of treating clinical pacemaker in the context of experimental healing tests as well as in research collaborations with renowned scientists and research institutes in Germany (Leibniz Institut DSMZ-German Collection of Microorganisms and Cell Cultures GmbH, Braunschweig and Justus Liebig University Giessen) ) and Belgium (University of Ghent). Since its foundation in November 2017, the company has raised more than 5.5 million euros in public finance and private investment. PhagoMed supports, among others, the Austrian Research Promotion Agency (FFG) and Austria Wirtschaftsservice Gesellschaft mbH (aws). Currently, 11 highly-skilled scientists are working on development programs, including six employees at the Vienna Beacon Campus in Vienna.
About the phage
Phage are viruses that attack only bacteria. The phages are multiplied by bacterial infection with their DNA and then reprogrammed the bacterial cell to produce new fats. As soon as enough new phage is produced, the phage destroys the bacterial cell walls by means of specially generated enzymes and thus lead to cell death. Individual phages only act against a very limited spectrum of bacteria (usually only within one species). This combination of high selectivity and high performance killers makes fage a very interesting alternative to antibiotics in the treatment of bacterial infections.
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