EnBiotix Closes Series A Financing; Forms EnBiotix (Brasil) Ltda. in Deal with Wired Holdings
Published: May 12, 2016
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
EnBiotix, Inc., a product-focused bioengineering company transforming and revitalizing existing antibiotic classes to combat the global rise of drug-resistant and drug-tolerant bacterial infections, today announced the completion of a Series A financing. Investors in the round included Wired Holdings Investment Corp. (“WHIC”) and Apeiron Holdings Limited (“AHL”). In conjunction with the transaction, WHIC and EnBiotix, Inc. have entered into an agreement to establish a new joint venture company in Brazil, EnBiotix (Brasil) Ltda. (“EBL”), for the purposes of developing and commercializing EnBiotix’s product portfolio throughout Latin America. Roberto Guttman, Founder and CEO of Wired Holdings, has joined the EnBiotix Board of Directors.
“EnBiotix has a unique suite of product candidates arising from an innovative combination of synthetic and systems biology approaches to eradicate bacterial infections,” said Roberto Guttman. “These candidates address significant and growing needs globally, and EBL will be uniquely positioned to facilitate their development in Latin America. I’m thrilled to join the EnBiotix Board of Directors and look forward to collaborating with the team.”
Under the terms of the agreement, WHIC will provide strategic, regulatory and commercial assistance to EnBiotix in establishing and implementing EBL. EnBiotix, Inc. will continue to retain all rights to the compounds outside of Latin America and responsibility for continuing development of all products. EBL will initially focus on the products EBX-001 for P. aeuriginosa infections in cystic fibrosis (CF), non-CF bronchiectasis and chronic obstructive pulmonary disease patients; EBX-002 for catheter-associated urinary tract infections; and EPP-001 which addresses prosthetic joint infections. Additional product candidates may be considered at a later date. EBL will pursue product registrations and commercialization in Latin America of all products arising from the EnBiotix portfolio for an initial term, with term extensions available as agreed upon between the parties. Additional terms of the financing and EBL agreement remain confidential between the parties.
“Our partnership with Wired Holdings is an important milestone in the advancement of EnBiotix’s global product development and commercial strategy,” said Jeffrey D. Wager, M.D., Chairman and CEO, EnBiotix. “With some of the most rapidly developing healthcare delivery systems in the world, the Latin American pharmaceutical market currently generates approximately $90 billion in revenues and is growing at between 10 to 15 percent annually. The patient and market access that the collaboration of EBL with Wired Holdings enables will allow us to tap into these resources and continue to finance and grow EnBiotix into a key market leader in this region.”
EBX-001 combines tobramycin with a metabolite potentiator as a novel, inhaled investigational treatment for P. aeruginosa infections in cystic fibrosis (CF), non-CF bronchiectasis and COPD patients. As the only therapeutic candidate specifically targeting the eradication of bacterial persisters, EBX-001 has unique potential to treat these persistent infections and reduce morbidity, mortality and the treatment burden to patients, their families and health care delivery systems. With approximately 70,000 CF, over 200,000 non-CFBE and millions of COPD patients potentially eligible for EBX-001 therapy worldwide, EBX-001 has multibillion dollar market potential.
EBX-002 is a proprietary aminoglycoside + potentiator IV Piggyback in development for gram-negative catheter-associated urinary tract infections (caUTIs) in the hospital setting. There are 450,000 caUTIs per year in the US (and over 1 million globally), representing a treatable market potential of nearly $1 billion. FDA familiarity with the candidate aminoglycoside and the potentiator could allow for an abbreviated clinical development path, which may bring EBX-002 to the market within 4 years.
EPP-001 is an engineered bacteriophage using customized phages coding for biofilm-degrading enzyme payloads. EPP-001 will be initially developed in combination with standard antibiotic therapy for the treatment of prosthetic joint infections (PJIs), since attempts to eradicate PJIs with antibiotics alone fail up to 70% of the time. The current standard of care to treat PJI “salvage therapy failures” is a costly two-step surgical process involving prosthetic joint removal, debridement and replacement with a new joint. PJI incidence is growing dramatically with an aging population requiring hip and knee replacements; by 2020 almost 2 million patients per year will receive a hip or knee replacement with some 2-3% developing these severely debilitating infections.
EnBiotix is an engineered antibiotics company deploying novel systems and synthetic biology technologies developed by Prof. James J. Collins, the Termeer Professor of Medical Engineering & Science Professor, Department of Biological Engineering, Massachusetts Institute of Technology. These technologies enable the development of both novel antibiotics and potentiators of existing antibiotics which have the potential to transform their spectrum of activity and resistance profile. With drug-resistant and drug-tolerant infections rapidly becoming a global health crisis, EnBiotix’s robust product pipeline addresses a wide range of acute and chronic infections to significantly impact the lives of patients. For more information, please visit www.enbiotix.com.
About Wired Holdings Investment Corp.
Wired Holdings is a family investment office founded to pursue healthcare investment and growth opportunities throughout Latin America and abroad. In addition to its partnership with EnBiotix, other portfolio companies include Grupo Biotoscana, Medecell, R9c Ltd. and Sterifarma Ltd.
About Apeiron Holdings Limited
Apeiron Holdings Limited is a private investment office founded to leverage investment opportunities of its affiliate Apeiron Partners LLC (www.apeironpartners.com).
- Health Care Industry
- Latin America
- bacterial infections
- urinary tract infections