AdjuTec Pharma AS

AdjuTec Pharma Adds more Funding to its Lead Product APC148

Oslo, Norway, 13 June 2023 – AdjuTec Pharma AS is a privately held company developing antibiotic resistance breakers. The company was recently allowed to reallocate €1mill of a pipeline research grant from Eurostars to support clinical R&D activities of our lead product APC148.

Adjutec is raising private capital to start a phase 1 program with our lead product APC148 first quarter 2024. The company is working to secure resources to the further clinical development of APC148. Adjutec is supported by several research grants to develop products that protect broad-spectrum antibiotics from resistance. The company received a Eurostars grant in 2022 to support preclinical- and clinical activities of our pipeline product APC247, a new broad-spectrum beta-lactamase inhibitor. In April 2023 the company applied Eurostars for reallocation of funding to our phase 1a clinical study of APC148, which was accepted.

Adjutec has recently submitted two applications for public funding of €4mill to further support the phase 1 program of APC148.
“Securing funding of our phase 1 program of APC148 has priority. With a difficult capital market, soft funding is important to secure R&D activities and attract investors. The additional funding of €1mill to the APC148 clinical phase 1a study is significant. The Eurostars decision supports the European Parliament latest request to member states of adding more resources into the fight of AMR” comments CEO Bjørn Klem
Antimicrobial Resistance at the Heart of EU’s Global Health Strategy
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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2023-06-13 11:55