19.04.2013 - Edmond de Rothschild and Forbion Capital Partners have co-led a Series A investment in anti-infectives company, Allecra Therapeutics.
Antibiotic resistance is a global problem, which has triggered huge investments into development of new drugs against difficult to treat bugs. Yesterday, Allecra Therapeutics GmbH started operations with a co-investment totalling €15m from Edmond de Rothschild Investment Partners, Forbion Capital Partners and EMBL Venture Funds. The German-French company (Loerrach, Saint Louis) aims to bring two novel antibiotics to clinical stage targeting multi-drug resistant gram-negative bugs such as Pseudomonas aeruginosa or Klebsiella pneumoniae. IP has been already in-licenced from Indian Orchid Chemicals & Therapeutics Ltd in Chennai.
According to Orchid Chairman Raghavendra Rao, his company received a €1m upfront payment. „This is a big shot in arm for our drug discovery programme because we have been investing in basic R&D for some time now. We will be holding around 20% shareholding into that company and molecule and, as it progresses, we will get further revenues from it in the form of exit bonuses and further royalties.“ The Indian company recently reported progress in the antibiotic field boosting the performance of common antibiotics by application of silver nanoparticles provided by the fungus Trichoderma viridus.
Allecra’s drug development will be based on a strategic partnership between Allecra’s founders headed by CEO Nicolas Benedict with Orchid. Allecra’s Board member Holger Reithinger from Forbion Capital said: “We have a specialist team, each of whom is deeply experienced in the development of antibiotics and which collectively is supported by a world-leading group of Opinion Leaders.” Board member Olivier Litzka from Edmond de Rothschild Investment Partners added: “Allecra’s strategic partnership with Orchid is an innovative collaboration bringing together Allecra’s strong development capability with Orchid’s track record in antibiotic research and manufacturing. This is a new company built on a solid foundation for success.”
03.07.2015 Biotech giant Biogen is investing CHF 1bn in a new pharmaceutical production plant in the Swiss town of Luterbach. Noted as one of the world’s oldest biotech firms, the new plant will create up to 400 jobs.
02.07.2015 Dutch biotech Amarna and Austrian Biomarker research centre CBmed have joined forces to develop several immunotherapies, including therapies against cancer and diabetes type 2. The joint venture will develop Amarna’s next generation viral vector platform.
30.06.2015 Pharma giant Novartis has bumped up its neuroscience portfolio with the recent purchase of Australian biotech Spinifex for a US$200m upfront payment plus US$500 in milestone payments. The acquisition is centred on Spinifex’ mid-stage pain drug EMA401.
24.06.2015 Swedish scientists have created artificial neurons that are capable of mimicking the function of human nerve cells. The researchers hope that, once minituarised, they may one day be used to restore disturbed neural function.
22.06.2015 For the 31st time, the ACHEMA has drawn the global chemical engineering and the process industry to Frankfurt. Although still overshadowed by petrol, the biobased economy is getting ready to step out into the limelight.
12.06.2015 The high-potential cancer immunotherapy market is fiercely fought, and small companies have trouble making their mark. Nordic companies Targovax and Oncos have joined forces to create a Nordic immuno-oncology champion named Polaris.
METTLER TOLEDO now offers a new family of high-precision weighing platforms that provide superior accuracy and reliability in harsh industrial conditions with flexibility to be used for many applications. more