Date: 2018-02-16
Type of information: Series A financing round
Company: ABAC Therapeutics (Spain)
Investors: Pontifax (Israel) Quark Venture (Canada) GF Securities (China) Caixa Capital Risc (Spain) Debiopharm Innovation Fund (Switzerland) Ferrer (Spain)
Amount: €16 million
Funding type: series A financing round
Planned used:
- ABAC is utilizing its proprietary discovery platform PasNas to identify novel pathogen-specific antibiotics designed to selectively kill multi-drug resistant bacteria. This approach allows the pursuit of novel modes of action while minimizing the impact on normal flora and the selection of resistant strains. The technology was originally developed by founders Albert Palomer and Domingo Gargallo-Viola.
- ABAC’s lead program targets multi-drug resistant Acinetobacter baumannii, an increasingly fatal pathogen recently nominated by the World Health Organization as the most urgent bacterial threat for which new drugs are needed. The company intends to use the series A funds to advance its Acinetobacter program into the clinic and expand its pipeline of proprietary pathogen-specific antibiotics.
Others:
- • On February 16, 2018, ABAC Therapeutics, a leader in pathogen-specific antibiotics, announced the closing of a €16 million Series A round. The financing was led by Pontifax with participation from the Global Health Science Fund (jointly established by Quark Venture and GF Securities), Caixa Capital Risc, Debiopharm Innovation Fund and the existing investor Ferrer.
- Concurrent with the financing, ABAC also announced that Silvia Noiman (Pontifax), Zafrira Avnur (Quark Venture representing the Global Health Science Fund), Carlos Esteban (Caixa Capital Risc), Bea Arnold (Debiopharm Innovation Fund) and Olga Fidalgo (Ferrer) will join the board of directors alongside the founders of the company Albert Palomer and Domingo Gargallo-Viola.
Therapeutic area: Infectious diseases
Is general: Yes
