AdjuTec Pharma Completes a Capital Raise of NOK 16mill

Oslo, Norway, 20 February 2024 – AdjuTec Pharma AS is a privately held company developing antibiotic resistance breakers. The Company has completed a capital raise of NOK 16mill to support the phase 1 program of APC148 expected to start in 2024.

Adjutec has secured non-dilutive funding from EU and the Norwegian Research Council of NOK 31mill in support of the phase 1 program. With the capital raise of NOK 16mill the company will be able to complete the first phase1 single-ascending-dose study with APC148 in healthy volunteers starting later this year. The clinical trial application was recently submitted to the Swedish Medicinal Product Agency. The study will give important information about distribution, elimination and safety of APC148 after intravenous administration. The results will define a safe dose to be used in the following clinical trials when combining APC148 with broad-spectrum antibiotics and other enzyme inhibitors. The capital raise will also secure non-clinical R&D activities in 2024 to prepare for additional phase 1 studies in 2025.

About antimicrobial resistance (AMR) – https://www.who.int/news-room/fact-sheets/detail/antimicrobial-resistance

AMR is a global health threat with an estimated 5mill associated deaths, including 1.27mill deaths attributable to bacterial AMR in 2019. WHO has declared that AMR is one of the top 10 global public health threats facing humanity. Misuse of antimicrobials is the main driver in the development of drug-resistant pathogens. AMR results in prolonged hospital stays at intensive care units with increased costs to the healthcare system. 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 defence enzymes and restores bacterial sensitivity to antibiotics. The company’s 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 the Department of Pharmacy, University of Oslo. The Company is located at St. Olavs gate 5, 0165 - downtown Oslo.

For more information, please visit www.adjutecpharma.com

Please contact: info@adjutecpharma.com

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