Procarta Receives CARB-X Award of up to $9.2 Million
Stevenage, UK, 17th September 2019 / Sciad Newswire / Procarta Biosystems, a privately held UK-based biotech company, today announced a CARB-X award of up to $9.2 million to progress its pipeline of antibiotic precision medicines. The award includes initial non-dilutive funding up to $2.2 million with a further $7.0 million available if certain project milestones are met. The new antibiotics are based on Procarta’s proprietary oligonucleotide-based antimicrobial platform and will target potentially life-threatening infections caused by Gram-negative ESKAPE pathogens.
“This new award from CARB-X recognises the value of the novel modalities in our pipeline and their potential to precipitate a paradigm shift in antimicrobial treatments”, said Dr Andrew Lightfoot, PhD, MBA, Chief Executive Officer of Procarta. “We are delighted to have support from CARB-X recognising the importance of developing new antibiotics to combat antimicrobial resistance.”