AdjuTec Pharma AS

AdjuTec Pharma Attracts Public Funding to Optimize Drug Manufacturing

Oslo, Norway, December 29th, 2022 – AdjuTec Pharma AS, a privately held company developing antibiotic resistance breakers, turns the page of 2022 with an encouraging Christmas support from Oslo County of NOK 1.950mill. The funding will support optimization of the synthesis of our two lead compounds, APC148 and APC247. The program will define the optimal characteristics of the substances that will be used for microbiology testing as well as for testing in healthy volunteers in our clinical program. The R&D project will start first half of 2023 and Adjutec will collaborate closely with Kappa Solutions in Oslo, RISE at Södertälje in Sweden and researchers at the University of Oslo.

CEO Bjørn Klem recently presented Adjutec at the Biostock investor meetings in Lund and at the DNB Healthcare Conference in Oslo. These events were excellent opportunities for Adjutec to show-case the business opportunity of our antibiotic products.

“Adjutec continues to attract public funding to support our R&D program. The grant from Oslo County is a recognition of our drug development plans and supports our aim of building healthcare industry in Oslo in collaboration with local providers. It also strengthens the company attractiveness before our next capital raise that is planned first half of 2023 to fund clinical testing of our lead compound APC148” comments Bjørn Klem.

About antimicrobial resistance (AMR) –

AMR is a global health threat that kills 1.27mill people every year. It requires urgent multi-sectoral action in order to achieve the Sustainable Development Goals (SDGs). WHO has declared that AMR is one of the top 10 global public health threats facing humanity. Misuse of antimicrobials is the main drivers in the development of drug-resistant pathogens. Lack of clean water, sanitation and inadequate infection prevention and control promote the spread of microbes, some of which can be resistant to antimicrobial treatment. The cost of AMR to the economy is significant. In addition to death and disability, prolonged illness results in longer hospital stays at intensive care units and isolate wards. Without effective antimicrobials, the success of modern medicine in treating and preventing infections during major surgery and cancer chemotherapy, can be jeopardized.

About AdjuTec Pharma

AdjuTec Pharma is a Company that is dedicated to developing and providing novel antibiotic resistance breakers to the global market. The Company technology offers a unique mechanism of action that inactivates bacterial defense enzymes and restores bacterial sensitivity to antibiotics. The Company lead product is APC148, a selective zinc chelator targeting bacterial metallo-ß-lactamase (MBL) enzymes. The technology was invented by Professor Pål Rongved and his group at Department of Pharmacy, University of Oslo. The Company is located at Rebel, Universitetsgata 2 - downtown Oslo.

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We are currently working towards the following UN 17 sustainable development goals. Read more about the UN goals here.