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The company's lead candidate, MGB-BP-3, has shown promising results against a broad range of multi-resistant Gram-positive strains.
MGB Biopharma, a biopharmaceutical company based in Glasgow, Scotland, specializing in the development of novel anti-infectives, has been nominated and shortlisted for the 2015 Scottish Enterprise Life Sciences Annual Award for “Investment of the Year.”
The company reported raising £4 million in September 2014 to develop a novel antibacterial agent, MGB-BP-3, which targets a broad range of multi-resistant Gram-positive strains. The funding included £2.7 million, provided by a syndicate of investors, led by Archangels, and includes existing investors Barwell PLC, TRI Cap and the Scottish Investment Bank, the investment arm of Scottish Enterprise.
MGB Biopharma also received a prestigious £1.3m funding award announced in June by Innovate UK, formerly the Technology Strategy Board (TSB), under its Biomedical Catalyst programme.
This year’s awards consists of six categories to recognize excellence in companies and individuals making significant contribution to life sciences. MGB Biopharma is one of three shortlisted finalists in the “Investment of the Year” category. Judging criteria includes the significance of the investment to the sector. The winners will be announced at the Scottish Life Sciences Annual Dinner in February 2015.
MGB Biopharma’s funding will go into Phase I studies to investigate the safety and tolerability of the oral formulation of MGB-BP-3 for use in the treatment of C. difficile infections. The trial, which is expected to commence in the first half of 2015, will also examine the effect of MGB-BP-3 on normal gut flora.
The company is also working on the preclinical development of an intravenous formulation of MGB-BP-3, with IND submission expected by the end of 2015. The intravenous formulation has promising results against a broad range of hospital-acquired Gram-positive pathogens, including resistant and susceptible Staphylococcus, Streptococcus and Enterococcus species.
Source: MGB Biopharma