Glasgow, Scotland-based company pioneering the development of precision antibiotic therapies based on naturally occurring bacteriocins, Glox Therapeutics, raised GBP 4.3M in seed funding. The company announced the investment on November 13, 2023. Boehringer Ingelheim Venture Fund and Scottish Enterprise led the financing for the company.
Purpose of financing for Glox Therapeutics
With the latest financing, the company intends to develop effective targeted therapeutics against antibiotic-resistant Gram-negative bacteria. It has plans to further establish laboratories in Oxford and Glasgow. Meanwhile, the firm also looks forward to expanding its team to accelerate its bacteriocin development programme.
What the company’s official has to add
Dr James Clark, CEO of Glox Therapeutics, said, “Our mission is to provide physicians and patients with highly potent, targeted antimicrobial therapies that can kill antibiotic-resistant bacteria for which there are diminishing options available for treatment. This seed funding is a testament to the promise of Glox Therapeutics’ precise antibiotic therapies, and we are thrilled to have the backing of such high-calibre investors. This will enable us to establish laboratories and attract top-tier talent, and I’m delighted to lead the team as we embark on our pioneering bacteriocin development programme, with the first target being P. aeruginosa.”
What the investors and experts have to comment
Uzma Khan, Vice Principal of Economic Development and Innovation at the University of Glasgow, further said, “Bacteriocins offer the precision needed to target pathogens resistant to current treatments. Our novel platform, developed in collaboration with the University of Oxford, circumvents problems traditionally associated with using bacteriocins as therapeutics. We look forward to seeing the Company carry this forward to help deliver Gram-negative antimicrobial drugs.”
In addition, Prof Chas Bountra, Pro Vice-Chancellor for Innovation, University of Oxford, commented, “There is a growing consensus that the next generation of antibiotics should be narrow-spectrum therapeutics, able to target specific pathogenic AMR bacteria without collateral damage to the wider human microbiome, which is so vital to our health and wellbeing. Glox Therapeutics’ high-potency therapies offer the long-awaited solution to address these urgent unmet medical needs in tackling treatment-resistant bacterial infections.”
Besides, Dr Niklas Czeloth, Executive Director / Investment Manager, Boehringer Ingelheim Venture Fund, said, “The Boehringer Ingelheim Venture Fund is excited to invest in Glox Therapeutics, thereby advancing the development of its ground-breaking class of bacteriocins. In a world grappling with the escalating threat of AMR, there is an urgent global need for innovative approaches that target novel mechanisms devoid of any pre-existing resistance. We firmly believe that Glox Therapeutics holds immense potential to make a profound impact in the battle against antibiotic-resistant infections.”
Kerry Sharp, Director of Entrepreneurship and Investment, Scottish Enterprise, also said, “Glox Therapeutics is a fantastic example of an ambitious spin-out. It is commercialising world-class life sciences research with the potential to save lives worldwide. The calibre of Scottish early-stage companies, like Glox Therapeutics, continues to attract international investment. It further enables our youngest companies to positively contribute to Scotland’s economy as they scale up.”
About the company
In February 2023, Prof Daniel Walker and Prof Colin Kleanthous launched the company. Glox Therapeutics is developing precision antibiotics utilising engineered protein bacteriocins.
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