FORSKNINGSTREKANTPARK — Locus Biosciences, which is developing advanced antibacterial products with gene editing technology, has raised roughly $12.5 million in debt from 31 investors, according to a recent securities filing.
The round, which kicked off on April 8, is capped at $15 million, with $2.5 million remaining to be sold. Funds raised will be used fo “payments of salary in the ordinary course of business,” the filing indicated.
The Morrisville-based Locus is a 2015 spinout of N.C. State University. It started with the help of a $75,000 Company Inception Loan from the North Carolina Biotechnology Center. The Biotech Center followed that with a $250,000 Small Business Research Loan a year later.
Tre af de fire videnskabelige grundlæggere af Locus har også modtaget Biotech Center-bevillinger på i alt mere end $300.000.
Locus went on to raise $19 million in Series A venture capital in 2017.
This January, the startup launched the world’s first clinical trial of a recombinant bacteriophage therapy, a major milestone for the field.
Locus har åbnet tilmelding til et fase 1b-studie af en potentiel behandling af urinvejsinfektioner forårsaget af Escherichia coli (E. coli) bakterier. Studiet vil evaluere LBP-EC01, en bakteriofag "cocktail", der er blevet konstrueret med genredigeringsteknologien CRISPR Cas3 for at målrette mod E. coli-genomet.
In 2019, it also signed an exclusive collaboration and license agreement with Janssen Pharmaceuticals, owned by Johnson & Johnson, to develop, manufacture and commercialize crPhage products targeting two key bacterial pathogens for the potential treatment of infections of the respiratory tract and other organ systems.
Locus received a $20 million upfront fee with an additional $798 million in payments if it meets certain development milestones.
Original artikelkilde: WRAL TechWire