NovaBiotics Ltd (NovaBiotics), the clinical-stage anti-infectives biotechnology company, today announced that Woodford Investment Management Ltd (Woodford) has invested an additional £3.0 million in a private placement. This follows earlier investment of £5.0 million announced in January 2015.
The investment from Woodford will provide working capital to allow NovaBiotics to continue its leading, innovative research in anti-infectives. The company is focused on developing an advanced portfolio of antimicrobial assets to target unmet clinical needs.
Deborah O’Neil, Chief Executive and Scientific Officer, NovaBiotics, said: “The urgent need to develop antimicrobial treatments for poorly served clinical conditions has never been more important. The additional investment from Woodford will allow NovaBiotics, which has become a leader in the field of anti-infectives over the past decade, to continue to develop first-in-class solutions to tackle difficult to treat diseases and contribute to the global battle against antimicrobial resistance (AMR)”
Paul Foulger, Chief Financial Officer, NovaBiotics said “We are thrilled Woodford continues to recognise NovaBiotics’ clinical and business potential with the decision to invest additional funds. Attracting investment of the calibre of Woodford is a testament to the NovaBiotics team. This funding allows us to progress our clinical and pre-clinical trials: by de-risking the programmes, our portfolio should attract further attention from potential partners, thereby adding significant value for shareholders.”
NovaBiotics has an advanced product portfolio of antimicrobial assets targeting large and important markets with significant unmet clinical needs. These include Lynovex, a novel multi-active orphan therapy for cystic fibrosis, Novexatin for the treatment of onychomycosis, a potential blockbuster outlicenced to Taro Pharmaceuticals, and Novamycin, a novel rapid acting antifungal for aspergillosis and other life-threatening yeast and mould infections. The Company is also developing earlier stage compounds from its proprietary antimicrobial peptide rational drug design platform including Nylexa™, an antibiotic with potential to tackle AMR. The significance of AMR was catapulted into the spotlight in 2016, with all 193 UN member states signing an agreement to combat the proliferation of antibiotic resistance, in addition to the publication of the O’Neill report. O’Neill’s report predicts that, if no solution is found, by 2050 10 million people every year would die as a result of AMR with a potential economic cost of up to $100 trillion.
NovaBiotics secures an additional £3.0 million investment from Woodford Investment Management | 3rd March 2017
Commercial Collaboration Deal for (Oral) Lynovex® | 5th August 2016
NovaBiotics Announces New Data on Cysteamine (Nylexa™) as an Antimicrobial Resistance Breaker in Multi Drug Resistant Bacteria | 18 June 2016
NovaBiotics Highlights Importance of Co-ordinated Approach to Antimicrobial Resistance | 7th June 2016
NovaBiotics Wins Investment of the Year Award | 5 Feb 2016
Lynovex® Activity in CF sputum & Against the Emerging CF Pathogen, Mycobacterium abscessus | 12 Aug 2015
Phase IIa clinical study results for NovaBiotics' Lynovex® presented at the 38th Annual European Cystic Fibrosis Symposium | 12 Jun 2015
Launch of the BEAM Alliance | 9 Jun 2015
NovaBiotics Quoted in "What Investment" on 11 February | 11 Feb 2015
NovaBiotics Raises £5.0 million in a Private Placement from Woodford Investment Management | 19 Jan 2015
NovaBiotics' Dr Deborah O'Neil Named EY UK Health Products & Services Entrepreneur of 2014 | 7 Oct 2014
Showcases increasing investor interest in the global stem cell sector | 22 Sep 2014
NovaBiotics Receives Orphan Drug Status from the US Food and Drug Administration (FDA) for Lynovex® | 16 Sep 2014
Scotland's Pharmacells Group creates 12 new jobs at BioCity Scotland following acquisition by Precious Cells Group, London | 18 August 2014
Precious Cells Biobank Acquires Stem Cell Technology Leader Pharmacells Group | 25 July 2014
NovaBiotics' Dr Deborah O'Neil Wins Entrepreneur of the Year | 27 June 2014
NovaBiotics Initiates Phase IIa Clinical Study for Lynovex in Cystic Fibrosis | 25 June 2014
NovaBiotics' Dr Deborah O'Neil Named EY Scotland Entrepreneur of 2014 | 20 June 2014
NovaBiotics Initiates Development of Orphan Drug in Cystic Fibrosis | 17 December 2013
Pharmacells to expand following funding boost | 24 September 2013
NovaBiotics Enters into Agreement with Taro | 28 August 2013
First patient dosed at Aberdeen Royal Infirmary in major international study | 29 August 2012
Pharmacells in talks to extend reach overseas | 24 January 2012
New hope in cystic fibrosis fight as Scots patients first to test drug | 2 January 2012
NovaBiotics reveals plans for cystic fibrosis drug after EU grants orphan status | 19 December 2011
Pharmacells stores stem cells for teenager paralysed in car crash | 20 October 2011
NovaBiotics Ltd - Presentation at BIO International 2011, Washington DC | 24 June 2011
Launch of Oristem® | 04 June 2011
GBP in Nexxus newsletter, Spring 2011 | 22 March 2011
Patents granted in key territories as Novexatin® moves closer to further clinical development and commercialisation | 21 February 2011
Unblinded Phase IIa Clinical Trial Data Delivers Excellent Results for Novexatin®, Nova... | 5 July 2010
Successful Completion of Phase IIa clinical trial for Novexatin®, IND filing planned for Phase IIb... | 1 May 2010
NovaBiotics secures an additional £3.0 million investment from Woodford Investment Management
3rd March 2017
Commercial Collaboration Deal for (Oral) Lynovex®
5th August 2016
NovaBiotics Announces New Data on Cysteamine (Nylexa™)
18th June 2016
NovaBiotics Highlights Importance of Co-ordinated Approach to Antimicrobial Resistance
7th June 2016
NovaBiotics Wins Investment of the Year Award
5th February 2016
Lynovex® Activity in CF sputum & Against the Emerging CF Pathogen, Mycobacterium abscessus
12th August 2015
Phase IIa clinical study results for NovaBiotics' Lynovex® presented at the 38th Annual European Cystic Fibrosis Symposium
12th June 2015
Launch of the BEAM Alliance
9th June 2015
NovaBiotics Quoted in "What Investment" on 11 February
11th February 2015
NovaBiotics Raises £5.0 million in a Private Placement from Woodford Investment Management
19th January 2015
NovaBiotics' Dr Deborah O'Neil Named EY UK Health Products & Services Entrepreneur of 2014
7th October 2014
Showcases increasing investor interest in the global stem cell sector
22nd September 2014
NovaBiotics Receives Orphan Drug Status from the US Food and Drug Administration (FDA) for Lynovex®
16th September 2014
Scotland's Pharmacells Group creates 12 new jobs at BioCity Scotland following acquisition by Precious Cells Group, London
18th August 2014
Precious Cells Biobank Acquires Stem Cell Technology Leader Pharmacells Group
25th July 2014