EIB and AntibioTx A/S signed a EUR 20m loan agreement to develop the potentially new class of antibiotics
OREANDA-NEWS. The European Investment Bank and AntibioTx A/S, a private Danish biotech company, signed a EUR 20m loan agreement to develop the first treatment from a potentially new class of antibiotics. This EIB operation is supported by “InnovFin – EU Finance for Innovators”, a new generation of financial instruments for innovative and growth companies, with the financial backing of the European Union under Horizon 2020 Financial Instruments.
Multi-drug resistant bacteria are an increasing global public health concern. They threaten our ability to treat common infectious diseases, resulting in prolonged illness, disability, and even death.
“Since the 1970’s only a few new antibiotic classes have been introduced,” said EIB Vice-President Alexander Stubb. “Therefore we are proud to support AntibioTx’ clinical development, which we hope will make a difference in fighting multi-drug resistant bacteria.”
AntibioTx has identified and patented a new class of antibiotics, which will potentially contribute to addressing current and future problems of antibiotic resistance. Studies have demonstrated that AntibioTx lead compound effectively overcomes current multi-drug resistant bacteria and clearly exceeds current, marketed antibiotics in delaying the onset of new resistance.
Specifically, the EIB loan will co-finance late-stage clinical trials for treatments of skin infections, based on AntibioTx’ patent portfolio.