COPENHAGEN, OCTOBER 26, 2017 - AntibioTx A/S has signed a 150 M DKK (20 M EUR) financing agreement with the European Investment Bank to support late-stage clinical trials for the lead candidate ATx201. ATx201 represents a new class of antibiotics with a novel mode of action and is being developed as an innovative treatment for bacterial skin infections.
The financing agreement is supported by InnovFin - a joint initiative of the European Investment Bank and the European Commission to finance innovative healthcare projects. The financial support recognizes recent progress in AntibioTx and the potential value of the platform to respond to the immense threat from antibiotic resistance posed on global public health.
The AntibioTx platform comprises both short and long-term opportunities at the intersection of microbiology and immunology. In 2017 AntibioTx successfully completed the first clinical study and is currently conducting another five clinical studies in Phase I and Phase II on lead candidates. Data from these studies are expected in 2018.
This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and can be identified by words such as committed, will, steps, may, can, portfolio, planned, advancing, look forward, expected, or similar words. These forward-looking statements are based upon current expectations, estimates, believed potentials and can, therefore, involve risks and uncertainties. Many of these risks and uncertainties can be difficult to predict and could be out of the control of AntibioTx A/S. We may not actually achieve our intended plans, and you should not place undue reliance on these forward-looking statements.