Funding for new treatment
NovaBiotics secures DHSC grant for fungal treatment
The project aims to transform the Aberdeen firm’s Novamycin treatment from the laboratory to a drug ready for clinical testing. This would represent a potential breakthrough in advancing Novamycin further towards addressing the significant need for new, safe, effective and therapies for life-threatening invasive fungal infections.
The grant was made as part of a £10m Small Business Research Initiative (SBRI) competition run by Innovate UK on behalf of DHSC.
Dr Deborah O’Neil, pictured, CEO of NovaBiotics, said: “This award allows us to accelerate the next key stage of Novamycin’s development towards being a much-needed solution to life threatening fungal infections against which the limited number of existing therapies are ineffective.”
Dr Kath Mackay, interim director, Ageing Society, Health & Nutrition, Innovate UK said the work being undertaken is one of the biggest global challenges in healthcare.