Novo Holdings invests in two biotechs fighting antibiotic resistance

Life science investor Novo Holdings has welcomed two new biotech companies onto its REPAIR Impact Fund in an effort to fight antibiotic resistance.

The company’s REPAIR Impact Fund was launched in 2018 in an effort to attract and fund companies developing promising novel anti-infective therapies. The fund has since invested a total of $48 million across eight companies working across a wide range of modalities including four small molecules, two vaccines, one peptide and one oligonucleotide-based therapy.

Now, Novo Holdings has invested €7 million into Mutabilis, a French company developing novel antibacterials against Gram-negative infections. The investment will allow the company to accelerate its 2G-Dabocins programme, a wide spectrum Gram-negative anti-infective agent, which is currently undergoing lead optimisation.

"We look forward to working with the team at Novo Holdings REPAIR Impact Fund. REPAIR’s commitment to funding the development of novel antibiotics will provide us with the essential support we need to accelerate our lead asset to where it is most needed - the clinic as we strive to bring new antibiotics to the market to combat the growing threat of drug-resistant bacteria,” said Stéphane Huguet, Mutabilis’ chief executive officer.

American company IBT Vaccines also received $3.9 million from the Repair Impact Fund to further its work on developing a vaccine for Staphylococcus aureus, currently in late preclinical stage.

“Antibiotic resistant Staphylococcus aureus is a leading cause of morbidity and mortality around the world. This partnership with Novo Holdings REPAIR Impact Fund will prove invaluable in advancing our efforts of delivering a new innovative class of preventive medicines to combat staphylococcal infections and reduce the burden of antibiotic resistance,” said M. Javad Aman, president and chief scientific officer of IBT.

Aleks Engel, director of the REPAIR Impact Fund, commented: “We are thrilled to have Mutabilis and IBT Vaccines join the growing REPAIR Impact Fund portfolio. Both companies were selected amongst a talented pool of contenders based on their novel science and opportunity to address the vast unmet need of antimicrobial resistance.”