Oxford Drug Design announced today success in securing funds, totalling over £8m, from the Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X), the UK Department of Health and Social Care Small Business Research Initiative (SBRI) and equity investment led by o2h Ventures.
These funds will be used to advance our dual-target aminoacy-tRNA synthetase inhibitor (DaaRSi) project, which is developing new antibiotics effective against drug-resistant ‘Superbugs’ and to continue development of our proprietry machine learning platform to tackle other valuable pharmaceutical targets.
CARB-X, the world’s largest public-private partnership focused on funding the advancement of Gram-negative antibiotics, has agreed to back the DaaRSi project with a milestone dependent, non-dilutive, award for over £5m. This will be further accelerated by an award of £2M from the DHSC SBRI funding stream and equity investment led by o2h Ventures, which launched Britain’s first therapeutics and AI fund earlier this year.