FAB Pharma wins venture capital to finance anti-MRSA drug trial
FAB Pharma, a French developer of drugs to treat severe bacterial infections, has received Euro 2.3m of venture capital funding and has started recruitment for a Phase I trial of its lead compound.
FAB Pharma, a French developer of drugs to treat severe bacterial infections, has received Euro 2.3m of venture capital funding and has started recruitment for a Phase I trial of its lead compound.
The funding was led by CDC innovation and co-led by Bioam Gestion. US-based hedge fund Redmile Group also participated in the investment.
FAB Pharma has acquired assets in the treatment of methicillin-resistant Staphylococcus aureus (MRSA) from Paris-based Mutabilis. The company is developing a new class of low-molecular-weight antibacterial molecules that target a specific, essential enzyme in MRSA called Fatty Acid Biosynthesis I (FAB I).
FAB Pharma's r&d programme involves creating an anti-MRSA drug based on its Fab-001 lead product candidate. Fab-001 is a narrow-spectrum antibiotic with exceptional efficacy against known virulent strains of MRSA, the company says. It is said to possess a novel mechanism of action that is not used by any drug currently on the market or in late-stage clinical development.
The funding will allow FAB Pharma to begin Phase I clinical trials and develop back-up products. Recruitment for the Phase I study of Fab-001 (a single-dose injection in healthy volunteers) has begun and the study should be completed by the end of 2009. A second Phase I trial (with multiple ascending doses) could start later this year.
FAB Pharma has appointed a management team led by Stefan Fischer (former ceo of Mutabilis). Sonia Escaich (former cso of Mutabilis) is working as a consultant and will liaise with the firm's Scientific Advisory Board. In addition, Florian Reinaud (a partner at CDC Innovation) and Olivier Martinez (investment manager at Bioam Gestion) have joined the board of directors.