Leading healthcare fund manager, BioScience Managers, has moved into the rapidly growing anti-infectives market with a US$1m investment into Bulletin Board-listed AmpliPhi Biosciences Corporation (APHB.PK).
AmpliPhi has a proprietary library of bacteriophage, naturally occurring viruses which seek out and lethally target bacteria. Unaffected by antibiotic resistance these viruses are highly specific and have been proven to be safe for humans, animals, fish and plants.
In 2012, AmpliPhi merged with Australian company Special Phage Services, securing additional technology and expertise and adding to the international footprint already established in the USA and the UK.
“Resistance to antibiotics is fast emerging as one of the biggest challenges in the modern healthcare environment. We have high expectations for this investment and we’re pleased to be supporting Australian technology and talent in the context of a much larger international opportunity,” commented Chief Investment Officer Matt McNamara.
In the US over 50% of hospital-acquired infections are caused by drug resistant bacteria, creating a rapidly growing market with few effective solutions.
BioScience Managers has invested US$1m in a $7m private placement, alongside RA Capital Management and Third Security LLC, and will take an active role supporting the company as it grows into an international leader in the anti-infectives market.
“We are very pleased to have the support of these outstanding life science investors,” said Philip J Young, President and Chief Executive Officer of AmpliPhi. “The financing will allow us to more rapidly advance the development and commercialization of a variety of bacteriophage-containing human therapeutics for use in the treatment of bacterial infections.”
McNamara said, “We are looking forward to supporting AmpliPhi as the company moves forward with its clinical development. We believe this is an exciting company with the potential to become a market leader with technology that will make a substantial difference to world healthcare.”
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