NovaBiotics Ltd, the Aberdeen based clinical-stage anti-infectives biotechnology company has secured a further £3m investment from Woodford Investment Management Ltd.
This follows an earlier investment of £5.0 million announced in January 2015.
The investment from Woodford will provide working capital to allow NovaBiotics to continue its innovative research in anti-infectives. The company is focused on developing an advanced portfolio of antimicrobial assets to target unmet clinical needs.
Deborah O’Neil, Chief Executive and Scientific Officer, NovaBiotics, said: “The urgent need to develop antimicrobial treatments for poorly served clinical conditions has never been more important. The additional investment from Woodford will allow NovaBiotics, which has become a leader in the field of anti-infectives over the past decade, to continue to develop first-in-class solutions to tackle difficult to treat diseases and contribute to the global battle against antimicrobial resistance (AMR)”
Paul Foulger, Chief Financial Officer, NovaBiotics said “We are thrilled Woodford continues to recognise NovaBiotics’ clinical and business potential with the decision to invest additional funds. Attracting investment of the calibre of Woodford is a testament to the NovaBiotics team. This funding allows us to progress our clinical and pre-clinical trials: by de-risking the programmes, our portfolio should attract further attention from potential partners, thereby adding significant value for shareholders.”