Post–funding, Fusion will own a 42.84% equity shareholding in Absynth. The North West Fund for Biomedical, managed by SPARK Impact, is investing £400,000 and Fusion IP is investing £450,000.
This brings the total awarded to Absynth since 2012 to £175,000 in two grants from the TSB. The investment will also complement funding secured from the Biomedical Catalyst – a funding stream administered by the UK’s innovation agency, the Technology Strategy Board (TSB) – to further develop Absynth’s product pipeline. Absynth will use the investment to advance the Staphylococcus aureus programme to key pre-clinical milestones. Lead programmes undertaken by Absynth target Staphylococcus aureus, including its drug-resistant form MRSA, against which vaccines and antibodies of other companies have failed to show clinical efficacy Absynth believes its approach has the potential to succeed where others have previously failed.Ībsynth’s novel antigens offer broad potential against a range of bacterial infections and form the basis of the company’s pipeline that includes vaccines to prevent Clostridium difficile and Streptococcus pyogenes infections. Part of the portfolio of Fusion IP, the university commercialisation company that turns world-class research into business, Absynth has developed a distinctive, non-conventional approach to developing vaccines and therapeutic antibodies based on identifying novel, conserved bacterial antigens that are essential and also antibody-accessible. Novel antigens offer broad potential against a range of bacterial infections and form the basis of the company’s pipelineĪbsynth Biologics, a UK biotechnology spinout company from the University of Sheffield, has secured £850,000 in funding from new and existing investors.
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