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.”
05.02.2016 It is not yet clear why a man died during a first-in-man clinical trial in January. However, a preliminary report found several “major shortcomings” by responsible CRO Biotrial. However, all regulations were complied with.
04.02.2016 After having dodged multiple takeover attempts by Monsanto last year, agrobusiness giant Syngenta has now agreed to be acquired by chemical corporation ChemChina. The Swiss company also announced plans to go public within a few years.
01.02.2016 Altering human DNA with the efficient gene editing method CRISPR/Cas9, especially germline modifications, was long considered a taboo. Now, however, UK scientists have received official approval to tinker with embryo DNA.
27.01.2016 Three UK universities have teamed up with three pharma companies to create the Apollo Therapeutics Fund. With the tech transfer fund, the consortium aims to develop scientific research into medicines.
25.01.2016 Affimed means to put a promising drug combination to the test. With support from MSD, the German biopharma will carry out clinical trials for an immunotherapy combining treatments of both companies.
21.01.2016 Stop squandering antibiotics and make research profitable again: at the World Economic Forum in Swiss Davos, 83 pharmaceutical companies have called for a unified approach towards the threat of antimicrobial resistance.