Oversubscribed cash call

MGB Biopharma raises funds to tackle life-threatening illnesses

Miroslav Ravic

Miroslav Ravic: CEO of MGB Biopharma

Scottish drugs development firm MGB Biopharma, which is developing drugs to tackle life-threatening illnesses has seen its latest fund-raising exercise oversubscribed.

Its lead antibiotic MGB-BP-3 aims to eradicate C-Dificile, a common hospital infection within the first few hours of exposure.

The cash call was supported by new and existing investors, led by Archangel Investors and including Scottish Investment Bank, Barwell and TriCapital Investors.

Dr Sarah Hardy, chief investment officer at Archangels, said: “There remains a desperate need for novel treatments in our armoury to treat C. difficile infections.  The work that MGB Biopharma is undertaking is both important and innovative and the results that have been achieved so far have been very encouraging.”

Kerry Sharp, Director of Scottish Investment Bank, said: “Scotland hosts one of the most sizeable and vibrant life sciences communities in Europe. As one of those community companies, MGB Biopharma is at an exciting stage as it progresses through its Phase IIa clinical trial.”

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