Monday, 17 December 2018

ANTABIO raises € 12.5M from Series A funding

13 July 2018 | News

New investors Omnes, BNP Paribas Development and Sham Innovation Sante invest an additional €5.2M on top of the €7.3M first closing announced in October 2017

Antabio SAS, a biopharmaceutical company developing novel antibacterial treatments in areas of highest unmet needs has extended its Series A financing round with an additional €5.2 million subscribed by investment funds Omnes, BNP Paribas Development, and Sham Innovation Santé (Turenne Capital).

Existing shareholder Galia Gestion also participated in this extension. In October 2017, Antabio announced the first closing of its Series A financing round for €7.3 million 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 €12.5 million.

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.

Superbugs carrying MBLs (such as NDM-1) are spreading worldwide and cause life-threatening drug-resistant infections that are deemed a critical medical priority by the WHO. There are currently no marketed inhibitors of MBLs.

The €12.5 million series A financing complements the CARB-X grant of up to $8.9 million 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.

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