A Pittsburgh company focused on providing solutions for drug-resistant bacterial infections is eligible to receive as much as $12.17 million to advance its lead program through Phase 1 clinical studies for its first indication of prosthetic joint infections.
By Patty Tascarella – Senior Reporter, Pittsburgh Business Times
Feb 25, 2020, 7:08am EST Updated 9 hours ago
A young Pittsburgh-based biotech company on Tuesday announced an agreement with CARB-X, a global nonprofit partnership, through which it is eligible to receive as much as $12.17 million.
Peptilogics Inc. is focused on providing solutions for drug-resistant bacterial infections.
CARB-X, short for Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator, is based at Boston University School of Law.
As part of the agreement, Peptilogics is eligible to receive up to $12.17 million in non-dilutive capital to advance its lead program through Phase 1 clinical studies for its first indication of prosthetic joint infections. Funding from CARB-X also enables Peptilogics to accelerate expansion of its peptide discovery platform for the development of other novel compounds.
“The antimicrobial crisis is here and the world is paying closer attention to the threats posed by infectious diseases, as evidenced by recent news headlines,” Jonathan Steckbeck, Peptilogics founder and CEO, said in a release. “We are excited by our partnership with CARB-X because they recognize and fund only the most robust science and are aligned with our goal of bringing best-in-class medicines to patients suffering from a lack of effective alternatives.”
Antibiotic resistant bacteria are one of the largest global public health challenges today and current treatments often fail to treat new and emerging resistant strains, resulting in exponentially increasing patient deaths. Peptilogics discovered a new class of anti-infectives using its proprietary algorithmic design process, which have applications across multiple industries and a broad spectrum of resistant bacteria. Its lead candidate, PLG0206, works by targeting and disrupting bacterial membranes leading to the death of bacterial cells. PLG0206 has been granted Qualified Infectious Disease Product status by the U.S. Food and Drug Administration, which provides incentives for the development of new antibiotics, including an additional five years of market exclusivity, as well as eligibility for Priority Review and Fast Track designation.
Jason Camm, managing director and chief medical officer of Thiel Capital, an investor since summer 2017, said in a prepared statement that Peptilogics “continues to demonstrate a differentiated approach to building their business – with a unique indication strategy and a computational discovery platform that targets among the most prevalent infectious disease indications worldwide.“
Camm, who serves on Peptilogics’ board, said the young company looks forward to working together with CARB-X.
Peptilogics, which spun out of the University of Pittsburgh, was formed in 2013. It has also had strong local support as both the BlueTree Allied Angels and BlueTree Venture Fund gave the company capital to get started and continued to invest.