Antabio SAS announced today the completion of a 7.3M Euros series A financing with subscriptions from investment funds iXO Private Equity, IRDI SORIDEC Gestion, Galia Gestion and from the company’s historical investors including former President of OM Pharma Christophe Ricard.
The Series A Complements Recent CARB-X Grant of up to $8,9 Million
Labège, France, October 16, 2017 / B3C newswire / -- Antabio, a biopharmaceutical company developing novel antibacterial treatments in areas of highest unmet needs, announced today the completion of a €7.3M series A financing with subscriptions from investment funds iXO Private Equity, IRDI SORIDEC Gestion, Galia Gestion and from the company’s historical investors including former President of OM Pharma Christophe Ricard.
The funding will be used to accelerate the development, up to completion of Phase 1 clinical trials, of Antabio’s novel inhibitor of bacterial metallo ß-lactamases (“MBLIs”) which will be combined with a carbapenem to fill an important gap in the treatment of drug-resistant infections. This financing complements the recent CARB-X grant of up to $8,9 million awarded to Antabio in July 2017 to support the company’s Elastase Inhibitor program (PEI) for the treatment of chronic Pseudomonas infections in Cystic Fibrosis patients.
“We are delighted to welcome iXO Private Equity, Irdi Soridec and Galia Gestion to Antabio, and we are honored by the continued solid support of our historical investors” said Marc Lemonnier, CEO of Antabio. “This new financing, coupled with the non-dilutive funding recently received from CARB-X, will advance Antabio’s innovative programs into clinical studies, thereby accelerating the development of our novel approaches to treat infections caused by WHO’s priority pathogens”.
“We initiate this collaboration with the Antabio team with a lot of enthusiasm” said Jean-Michel Petit, Investment Director at IRDI Soridec Gestion. “Beyond the compelling medical need, we have been impressed with the professionalism of the team and the quality of the programs developed at Antabio, which have already earned the support of global organizations such as the Wellcome Trust and CARB-X”.
About iXO Private Equity
iXO PE is the most important independent regional private equity General Partner in France dedicated to small and small-mid cap through buyout and growth transactions. The company manages over €610m assets within various French General Private Equity Investment Funds (known in France as FPCI), Local Private Equity Investment Fund (known in France as FIP), and Private Equity Investment Funds for Innovation (FCPI) covering a broad range of investments from €2m to €15m per project. Based in Toulouse, Marseille and Lyon, iXO Private Equity is able to meet all financing needs of small and midcap companies in order to create, develop and hand down from across his 3 investments types : Venture Capital, Growth Capital, LBO / OBO / MBO. Each of the four Partners oversees a given geographical area in South-West and South-East France and Rhône-Alpes.
