Thu. Sep 21st, 2023

Adaptive Phage Therapeutics Raises Further $20M; Extends Series B to $61M

Adaptive Phage Therapeutics, Inc., a Gaithersburg, MD-based clinical-stage biotechnology company dedicated to providing therapies to treat infectious diseases, raised $20m in further funding.

The AMR Action Fund has joined an existing $41m Series B round as a co-investor. The round was initiated in May 2021 and led by Deerfield Management Company, with participation from a second institutional investor and Mayo Clinic. Martin Heidecker, PhD, Chief Investment Officer of the AMR Action Fund, will join APT’s Board of Directors.

Proceeds of the AMR Action Fund’s investment are primarily intended to support APT’s clinical trials to address substantial unmet patient needs in Prosthetic Joint Infection (PJI) and Diabetic Foot Osteomyelitis (DFO).

Led by Greg Merril, Chief Executive Officer and Co-Founder, Adaptive Phage Therapeutics is a clinical-stage company advancing therapies to treat multi-drug resistant infections. Its approach leverages a library of systematically discovered, selected, catalogued, and curated bacteriophages (phages), which collectively provide broad coverage against many of the world’s highest priority antibiotic-resistant bacteria. Phages from APT phage bank are matched to treat patient’s infections through a proprietary susceptibility assay that APT has teamed with Mayo Clinic Laboratories to commercialize on a global scale.

The company’s technology was originally developed at the National Institutes of Health (NIH) by APT co-founder Carl R. Merril, MD CAPT USPHS (ret) and further advanced within a biodefense program of U.S. Department of Defense. APT acquired the world-wide exclusive commercial rights in 2017.




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