October 04, 2019
Original Press Release
GAITHERSBURG, Md.–(BUSINESS WIRE)–Adaptive Phage Therapeutics (APT), a clinical-stage biotechnology company founded to provide an effective therapeutic response to the global rise of multi-drug resistant (MDR) pathogenic bacteria, today announced that it has closed an oversubscribed, non-brokered financing, raising approximately $7 million in proceeds. Investors include Alexandria Venture Investments as well as a large integrated healthcare delivery network currently exploring the option to implement PhageBank™ therapy within its network of more than 17 hospitals and a NYSE-listed specialty life sciences company. Proceeds will be deployed to support multi-center phase 2 clinical studies for its PhageBank® therapy for antibiotic resistant bacterial infections.
“Phage therapy is emerging as the most promising alternative to dealing with the crisis of antibiotic resistance in bacterial infection”Tweet this
“Phage therapy is emerging as the most promising alternative to dealing with the crisis of antibiotic resistance in bacterial infection,” said Greg Merril, Chief Executive Officer and co-founder of APT. “The high level of interest from strategic and financial investors in support of our expanding clinical pipeline validates the potential phage therapy holds for patients.”
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