Antibiotics boost

A company developing novel DNA-based antibiotic technology against drug-resistant infections has received an equity investment totalling £730,000, with the potential to rise to £1.25 million.

Procarta Biosystems Ltd received the funding from Morningside Venture Investments, and current investors Rainbow Seed Fund and Iceni Seedcorn Fund. It will enable them to progress their anti-MRSA lead compound and deepen their extensive pipeline with emphasis on new therapeutics against Gram-negative strains such as Pseudomonas aeruginosa, a common complication in those with Cystic Fibrosis.

“Coming on the back of positive scientific results, this raise validates the Procarta’s platform’s promise to cope with the emerging threat of antibiotic resistance,” said Dr Michael Arthur, Procarta’s scientific co-founder and CSO, “We are thrilled to see this capital infusion which will allow us to drive all of our programmes forward and build on the early-stage interest expressed by major pharmaceutical companies.”

Dr David Knowles, who has just been appointed chairman at Procarta, said: “I am delighted that Procarta has secured this funding. The company’s elegant therapeutic platform is potentially applicable to a wide range of bacterial diseases and Procarta can now advance its portfolio of much-needed anti-bacterials.”