MetalloBio Secures £300K Follow-on Funding From Innovate UK
MetalloBio has received £300K funding from Innovate UK following on from their participation in the ‘Innovation to Commercialisation of University Research (ICURe) Programme’.
This brings the total seed investment in MetalloBio to date to £340K, including funding from The University of Sheffield.
MetalloBio will use the funds to complete early preclinical packages for their two antimicrobial leads. The company is seeking to attract further investment to complete preclinical studies and achieve clinical candidate selection and first-in-human studies.
Based in Sheffield, South Yorkshire, MetalloBio is focussing on the development of novel antimicrobials to treat pathogenic, multi-drug resistant, Gram-negative bacterial infections. Antimicrobial resistance (AMR) is a global health threat. Currently AMR is responsible for 700,000 annual fatalities, it is predicted by 2050 this could rise to 10 million deaths per year costing a £66 trillion loss to the global economy.
The outputs from the funding will directly impact the UK Government’s new plan to improve antimicrobial stewardship and reduce antimicrobial-resistant infections. The 20-year vision and 5-year national action plan aim to have AMR controlled and contained by 2040.
Kirsty Smitten, CEO of MetalloBio, said: “We hope this support from Innovate UK will allow us to complete fundamental preclinical research to accelerate our drug development programme and facilitate future relationships with potential partners and investors.”
For further information contact:
MetalloBio Limited
Kirsty Smitten
email: ksmitten1@sheffield.ac.uk