NEW “PENICILLIN” FOR THE 21ST CENTURY

Scottish start-up targeting infectious diseases with new class of antibiotics

 

  • The first new Scottish anti-bacterial since penicillin
  • World-wide first – a new class of anti-bacterial has been developed in Scotland
  • Scottish funding has been secured to develop a commercial product for global benefit
  • Life saving potential - combating drug resistant bacterial infections
  • Secured funding totaling almost £2million

MGB Biopharma Limited, a late preclinical stage biopharmaceutical company, has commenced operations in Glasgow, UK to develop and commercialise a new class of antibacterial product: DNA Minor Groove Binders.

The senior executives are highly experienced pharmaceutical and biotech experts with a well-proven track record and the company has received start up funding from a syndicate of business angel groups led by Archangel Informal Investments Ltd alongside TRI Capital Ltd, Barwell plc and the Scottish Enterprise’s Scottish Co-investment Fund.

The technology has been licensed from the University of Strathclyde and has so far demonstrated very significant activity against Gram positive bacteria, including MRSA and also against some Gram negative bacteria. 

The technology involves a new class of DNA minor groove binders (MGBs), to be used as anti-bacterial drugs.  These compounds have arisen from the work of a multidisciplinary team comprising medicinal chemists, molecular modellers and microbiologists. 

The initial development of the technology was created entirely through Scottish-based funding, initially through the former Synergy Fund, owned by University of Strathclyde and the University of Glasgow, then through Scottish Enterprise's Proof of Concept Programme and from royalties from Leucovorin®, the cancer treatment produced from research at Strathclyde University in the 1980s.  The funding for further development and commercialisation is being led by Scotland’s largest angel group, Archangels.

Dr Miroslav Ravic, Chief Executive Officer of MGB Biopharma said, “The introduction of a new class of antibacterial is an all too rare event in medical science.  We are particularly proud to be working with the DNA Minor Groove Binder Technology from the University of Strathclyde – I believe the last Scottish association with the discovery of a new antibacterial class was none other than that of Sir Alexander Fleming’s discovery of penicillin 82 years ago.  We are excited by the fact that MGB Biopharma has the potential to bring a new mechanism of action into the treatment of serious hospital and community acquired infections.  This is an area of high unmet need as a result of the rise of resistant bacteria which are not susceptible to many currently available antibacterial products”. 

Professor Colin Suckling, of Strathclyde's Department of Pure and Applied Chemistry, has been Principal Investigator in the DNA minor groove binder technology.  He said; "This is technology which was initiated and developed in Scotland and which is now being funded to grow in Scotland - for worldwide benefit

"Minor Groove Binders, which are found in DNA structures, have great potential to act as anti-infective agents to deal with infections which can have a serious, and even fatal, impact.  We look forward to the new company taking the technology further so that improved and safer treatments can be delivered to patients."

John Waddell, Chief Executive of Archangels, said; “This is the largest deal that Archangels has led in its 18 years of operation and one of the most complex.  By bringing together funding approaching £2million from partners across Scotland, we are backing the further development of this exciting product, which has major potential to cut deaths from infection.”

Andrew Sloane, head of Scottish Co-Investment Fund for Scottish Enterprise, said, “Scottish Enterprise has a major role to play in helping to increase private sector investment into Scottish companies and this deal is a great example of how we can help to make this happen.”

Robert Dick, TRI Cap chairman commented: “TRI Cap members are delighted once more to partner with Archangel to invest in this funding round for MGB Biopharma.  Around £200,000 has been secured from members in two tranches: we have all been impressed with the sense of purpose and clear vision of the management team at MGB.”

Alec Mackie from Barwell plc said; “It has been a busy year for Barwell as it continues to invest in innovative Scottish companies. Offering the prospect of improved healthcare worldwide, MGB BioPharma is another exciting example.”

 

 

END

April 2010

Issued on behalf of TRI Cap by Eileen Prior.
For further information contact Eileen Prior, PR consultant on 07802 180 412, or email eileen.prior@priorpr.co.uk


Visit www.tricapital.co.uk for more information.


 

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