MGB Biopharma drug secures £4m funding

Miroslav Ravic of MGB Biopharma said the firm now had the funds to conduct the 'important' second phase drug trials. Picture: Contributed

An anti-bacterial drug developed in Scotland to combat infections is entering the next phase of clinical trials after receiving a total £4 million investment.

The drug, MGB-BP-3, was invented by MGB Biopharma at the University of Strathclyde for the treatment of Clostridium difficile infections and is seen as having the potential to improve global cure rates.

Commonly known as C. difficile, the bacteria is responsible for the most cases of hospital-acquired infection in developed countries.

MGB-BP-3 will enter phase two clinical trails thanks to a newly-completed £1.3m fund raise from investors and a £2.7m grant awarded earlier this year by Innovate UK.

The funding round was led by Edinburgh-based Archangels, with co-funding from the Scottish Investment Bank, Barwell PLC and Melrose-based Tri Capital, and introduced crowdfunding investor Syndicate Room to the shareholder register for the first time.

Miroslav Ravic, chief executive and chief marketing officer of MGB Biopharma, said: “MGB Biopharma now has the funds with which to initiate our phase two study in patients diagnosed with C. difficile Associated Disease (CDAD).

“We are already witnessing renewed interest in our new anti-bacterial agent and its trial in key medical centres in North America where CDAD is particularly prevalent. This offers opportunities both to progress the study rapidly and to attract increased attention to the results for this important trial.”

The phase two trial is expected to involve 30 patients, each of whom has been diagnosed with CDAD, and will evaluate safety, tolerability, efficacy and in particular look for improvement in global, or sustained, cure rates.