A PIONEERING anti- bacterial agent developed in Scotland to treat Clostridium difficile-associated infections is entering Phase II clinical trials following completion of a £1.3 million fundraising by the company behind it, MGB Biopharma.
The funding round, led by Edinburgh-based business angel syndicate Archangel Investors, saw Glasgow-based MGB raise money from new and existing investors.
MGB’s lead product, MGB-BP-3 was invented at the University of Strathclyde, Archangel Investors noted.
The angel syndicate added that MGB-BP-3 would now be tested in patients for the first time in the fight against Clostridium difficile-associated disease. It noted that this bacterium was “responsible for the most cases of hospital-acquired infection in developed countries”.
Archangel Investors added: “MGB-BP-3 is seen as having the potential to improve global cure rates and become a new gold standard for the treatment of this debilitating and deadly disease.”
Scottish Investment Bank (SIB), which is part of taxpayer-funded Scottish Enterprise, Barwell, and Melrose-based Tri Capital were among those participating in MGB’s latest funding round, which brought crowdfunding investor Syndicate Room on to the shareholder register for the first time.
Archangel Investors, which led the funding round, noted the money raised supplemented a £2.7m grant awarded by Government-funded Innovate UK earlier this year.
The Phase II trial for MGB-BP-3 is expected to involve 30 patients, each of whom has been diagnosed with Clostridium difficile-associated disease. It will evaluate safety and tolerability, and efficacy, and, in particular, “look for improvement in global (or sustained) cure rates”, Archangel Investors noted.
Dr Miroslav Ravic, chief executive and chief medical officer of MGB Biopharma, said: “We are already witnessing renewed interest in our new anti-bacterial agent and its trial in key medical centres in North America where CDAD is particularly prevalent. This offers opportunities both to progress the study rapidly and to attract increased attention to the results.”
SIB director Kerry Sharp said: “We’ve invested in MGB since its creation and it’s fantastic to see the Phase II clinical trial start, which should demonstrate the potential of this anti-bacterial agent in saving lives across the globe.”
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