Research & Development
Adaptive Phage Therapeutics Raises USD 40.75m in Series B Financing
11 May 2021 - - US-based biotechnology company Adaptive Phage Therapeutics has closed a USD 40.75m series B investment round led by Deerfield Management Company, the company said.

Also joining the series B round are existing investor Mayo Clinic and an additional undisclosed institutional investor.

Proceeds of this financing will be used to accelerate clinical development of PhageBank phage therapies, as well as for general corporate purposes.

APT's PhageBank technology is a growing collection of hundreds of bacteriophage, collectively providing broad spectrum coverage against six of the highest priority multi-drug resistant bacterial pathogens.

APT plans to use the proceeds from this series B financing to fund the company's clinical-stage therapeutic programs in prosthetic joint infection and diabetic foot osteomyelitis, as well as for general corporate purposes, including further development of a proprietary PhageBank Susceptibility Test to rapidly identify phage therapies required to eradicate specific bacterial infections.

Adaptive Phage Therapeutics is a clinical-stage company advancing therapies to treat multi-drug resistant infections.

Prior antimicrobial therapeutic approaches have been "fixed," while pathogens continue to evolve resistance to each of those therapeutics, causing those drug products to become rapidly less effective in commercial use as antimicrobial resistance increases over time.

APT's PhageBank approach leverages an ever-expanding library of bacteriophage (phage) that collectively provide evergreen broad spectrum and polymicrobial coverage.

PhageBank phages are matched through a proprietary phage susceptibility assay that APT has teamed with Mayo Clinic Laboratories to commercialize on a global scale.

APT's technology was originally developed by the biodefense program of US Department of Defense. APT acquired the world-wide exclusive commercial rights in 2017.

Under FDA emergency Investigational New Drug allowance, APT has provided investigational PhageBank therapy to treat more than 40 critically ill patients in which standard-of-care antibiotics had failed.

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.
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