FAB Pharma raises €2.3 million in series A funding and begins recruitment for a Phase I trial of its lead compound

15-Sep-2009 - France

FAB Pharma announced the completion of a €2.3 million round of series A funding led by CDC innovation and co-led by Bioam Gestion. The USA-based, healthcare-focused hedge fund Redmile Group also participated in the round.

FAB Pharma has acquired assets in the treatment of methicillin-resistant Staphylococcus aureus (MRSA) from Mutabilis S.A. Severe infections caused by MRSA is a growing issue, especially in the hospital where it is one of the main causes of nosocomial infections. By definition, MRSA is resistant to a broad group of antibiotics, including penicillin and most cephalosporins. FAB Pharma's approach consists in developing a new class of low-molecular-weight antibacterial molecules which target a specific, essential enzyme in MRSA called Fatty Acid Biosynthesis I (FAB I).

FAB Pharma's R&D program involves creating an anti-MRSA drug based on its Fab-001 lead product candidate. Fab-001 is a narrow-spectrum antibiotic with exceptional efficacy versus known virulent strains of MRSA. It possesses a novel mechanism of action that is not used by any drug currently on the market or in late-stage clinical development. This €2.3 million round of funding means that FAB Pharma now has the capacity to finance Phase I clinical trials and develop back-up products. Indeed, recruitment for the Phase I study of Fab-001 (a single-dose injection in healthy volunteers) has just begun and the study should complete by the end of 2009. A second Phase I trial (with multiple ascending doses) could start later this year.

To achieve its goals, FAB Pharma has appointed an experienced management team. Stefan Fischer (the former Mutabilis’ CEO) is heading the company and Sonia Escaich PhD (Mutabilis' former CSO) is working as a scientific consultant, in liaison with the experts on the firm's Scientific Advisory Board. Florian Reinaud (a Partner at CDC Innovation) and Olivier Martinez (Investment Manager at Bioam Gestion) join the Board of Directors.

https://www.bionity.com/en/news/106237/fab-pharma-raises-2-3-million-in-series-a-funding-and-begins-recruitment-for-a-phase-i-trial-of-its-lead-compound.html