MGB Biopharma secures funding led by Archangel Investors to advance clinical trials.
The financing round was led by Archangel Investors to support ongoing Phase IIa trials for its lead antibiotic.
MGB Biopharma is a biopharmaceutical company that develops anti-infective medications to combat antibiotic resistance.
MGB Biopharma has completed a new funding round led by Archangel Investors, with participation from Scottish Investment Bank, Barwell, and TriCapital Investors. The capital will support the company as it finishes its ongoing Phase IIa clinical trial and prepares for subsequent development stages.
The firm focuses on creating anti-infective treatments to address antibiotic resistance. Its lead candidate, MGB-BP-3, is an oral antibiotic intended for patients suffering from Clostridium difficile-associated disease. The current trial evaluates safety and efficacy across incremental doses, with top-line results anticipated in the final quarter of 2019.
Investor perspective
"There remains a desperate need for novel treatments in our armoury to treat C. difficile infections. The work that MGB Biopharma is undertaking is both important and innovative and the results that have been achieved so far have been very encouraging."
Sarah Hardy
Head of New Investments and Director, Archangels
Use of funds
- 01Fund research and development
- 02Fund the next phase of growth
Investors
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About the company
MGB Biopharma
MGB Biopharma develops a novel class of anti-infectives to tackle antibiotic resistance.