Allecra announces 22 Mio. EUR Series B Financing
Funding supports Phase 2 development of novel antibiotic to treat resistant Gram-negative bacterial infections in the hospital
Allecra Therapeutics, a biopharmaceutical company dedicated to the development of novel antibiotics to combat drug-resistant bacterial infections, announced today the closing of its 22 Mio. EUR Series B investment round. The round was led by new investor, Delos Capital. Existing investors Forbion Capital Partners, Edmond de Rothschild Investment Partners, EMBL Ventures and Allecra’s co-Founder Nicholas Benedict also participated.
Phase 2 development of AAI202
The proceeds will fund Phase 2 development of AAI202, Allecra’s proprietary, novel antibiotic combination designed to treat drug-resistant Gram-negative bacterial infections. AAI202 is a combination of a powerful ß-lactam antibiotic together with a proprietary, novel Extended Spectrum ß-Lactamase Inhibitor. The combination is designed for use as broad-spectrum antibacterial therapy to treat hospitalized patients who contract infections caused by Gram-negative bacteria proven or suspected to express certain resistance mechanisms, particularly extended-spectrum ß-lactamases (ESBLs).
FDA has granted QIDP status
The Centers for Disease Control and Prevention have estimated that in the USA alone at least two million people each year acquire serious infections due to drug-resistant bacteria. “FDA has granted QIDP status (Qualified Infectious Disease Product) for AAI202, including eligibility for Fast-Track designation in the USA”, commented Nicholas Benedict, Allecra’s CEO.
Holger Reithinger of Forbion Capital Partners and Allecra’s Chairman, added: “This Series B investment into Allecra enables pursuit of the development program of AAI202, speeding the potential availability of AAI202 to patients who need it.”
Allecra established in 2013 in the European BioValley Life Sciences cluster located in the Upper Rhine valley encompassing northwest Switzerland, southwest Germany and the Alsace Region of France. The company is focused on the development of novel treatments to combat multi drug-resistant Gram-negative bacterial infections. Allecra’s wholly-owned French subsidiary is a beneficiary of financial support from the French public bank Bpifrance and from the Région Alsace.