Adaptive Phage Therapeutics (APT), a clinical-stage biotechnology company pioneering the development of phage-based therapies to combat bacterial infections, announced today that it has received a $12 million upfront investment from funds managed by Deerfield Management and the AMR Action Fund as part of a new $24 million total investment in a Series B1 round that is targeting $30 million in aggregate.
Antimicrobial resistance (AMR) is a growing public health concern, and this investment enables continuing clinical progression of APT’s pipeline of phage therapies to combat AMR infections. APT’s platform utilizes bacteriophages, or viruses that specifically target and kill bacteria, to create personalized treatments for patients with difficult-to-treat infections.
“We are thrilled to have the ongoing support of Deerfield and the AMR Action Fund as we work to address the urgent need for new treatments to combat antibiotic resistance,” said Greg Merril, co-Founder and CEO of APT. “This investment will allow us to advance our lead clinical programs related to musculoskeletal infections, including prosthetic joint infections and diabetic foot osteomyelitis.”
Concurrent with the investment, APT is expanding its Board of Directors to include Ian Hardy, PhD, MBA, Vice President of Chemistry, Manufacturing and Controls (CMC), Deerfield Discovery and Development at Deerfield Management. Dr. Hardy will serve as APT’s Board Chair. With over 30 years of experience in large pharmaceutical and biotech companies, covering a broad range of development programs from discovery through commercialization, Dr. Hardy brings a wealth of expertise to the APT team.
“I am excited to join the Board of Directors at APT and help advance their innovative phage therapy platform,” said Ian Hardy. “APT has the potential to make a significant impact in the fight against antibiotic resistance, and I look forward to working with the team to make these therapies broadly available to patients.”
