Procarta Biosystems develops an innovative class of DNA-based antibiotics designed to tackle drug-resistant infections. Its current lead is an anti-MRSA compound, and the company plans to deepen its pipeline with particular emphasis on new therapeutics active against Gram-negative strains such as Pseudomonas aeruginosa. The company raised £730,000 in equity financing to advance its anti-MRSA lead and support pipeline development. In conjunction with the funding, Morningside and Rainbow will each take a seat on the company’s board, and Dr David Knowles will become chairman. Founded in 2007 by The John Innes Centre, Plant Bioscience Limited and founding scientists Dr Michael McArthur and Professor Mervyn Bibb, the company is based in Norwich, UK. Prior to this round the company had received £320,000 in funding from Iceni Seedcorn Fund and the Rainbow Seed Fund. Procarta Biosystems, spun out from the John Innes Centre in Norwich, UK, is developing Transcription Factor Decoys (TFD), an injectable DNA therapy that inactivates bacterial resistance genes. The TFD approach is intended to restore the efficacy of existing antibiotics including vancomycin and methicillin. The company has established proof of concept with vancomycin and plans to extend its product pipeline to optimise the use of a wide range of antibiotics. Co-founders Michael McArthur and Mervyn Bibb estimate the first product will enter pre-clinical trials in 2009, after which they intend to introduce the product to market. Procarta says TFD technology will improve drug efficacy and prolong the commercial usefulness of antibiotic treatments. The company recently received development funding to advance its proprietary approach against resistant superbugs.

Total raised

$2M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2010