Date: 2015-06-03
Type of information: Series A financing round
Company: Auspherix (Australia)
Investors: Imperial Innovations Group (UK) Medical Research Commercialisation Fund (MRCF) (Australia)
Amount: £6 million
Funding type: series A financing round
Planned used: Auspherix, an early stage anti-infectives company,was founded in Sydney, Australia in late 2013 based on discoveries made at the ithree institute, University of Technology Sydney (UTS). As of April 2015, the Company has been incorporated in the UK, where it has ongoing collaborations with academic institutions. Auspherix was co-founded by Professor Ian Charles and Dr Dagmar Alber. The investment will be used to fund the Company’s drug discovery programme, expand the experienced management team and recruit a world-class microbiology team. Auspherix aims to progress its novel class of antibacterials, which have a unique profile and novel mechanism of action, through lead optimization to final candidate selection within the next two years. Auspherix’s current lead compounds show activity against a broad range of multidrug resistant important Gram-negative and Gram-positive bacterial infections. The Company anticipates appointing a CEO within the coming months, and is building out its Stevenage-based R&D team. It will pursue a flexible investment and partnering model aimed at maximizing the speed with which it can develop and commercialize its novel antibiotic drug candidates.
Previously, Dr Solari was Vice President in GSK’s UK-based Respiratory Therapy Area, and is currently senior research fellow in the National Heart and Lung Institute, Imperial College London, focusing on respiratory infections. He is also an advisor to Imperial Innovations and Brandon Capital Partners, and is on the board of Heptares and the Science Advisory Board of Astex Pharmaceuticals. Before joining GSK, Dr Solari was CEO of the UK Medical Research Council’s technology transfer arm, MRCT, creating spin out companies such as Heptares and developing an internal drug discovery group. The Company has also appointed Grant Hawthorne, an experienced biotech company director as COO.
Others: * On June 3, 2015, Auspherix, an early stage anti-infectives company originated in Sydney Australia, has raised £6 million in a Series A venture financing. New investor Imperial Innovations led the round alongside Australian founding investor the Medical Research Commercialisation Fund (MRCF). Innovations now holds a 27.5% stake in the company. Dr Roberto Solari, a recently appointed Venture Partner at Imperial Innovations has joined the Board of Directors as its independent non-executive Chairman. Previously Vice President in GSK's UK-based Respiratory Therapy Area he is currently senior research fellow in the National Heart and Lung Institute, Imperial College London, focusing on respiratory infections. Dr Jonathan Tobin, Healthcare Ventures, Imperial Innovations, has also joined the Board of Auspherix.
Therapeutic area: Infectious diseases
