Pontifax backs €16m series-A funding round for Abac Therapeutics

Global Health Science Fund, jointly established by Quark Venture and GF Securities, also took part in the financing along with Caixa Capital Risc, Debiopharm Innovation Fund and pharmaceutical company Ferrer.

Following the transaction, Pontifax's executive Silvia Noiman, Quark Venture's chief scientific officer Zafrira Avnur, Caixa Capital Risc's investment director Carlos Esteban, Debiopharm Innovation Fund associate director Bea Arnold and Ferrer corporate director Olga Fidalgo will join the board of directors alongside the founders of the company, Albert Palomer and Domingo Gargallo-Viola.

Abac intends to use the fresh capital to move its program targeting multi-drug resistant acinetobacter into the clinical stage, and to expand its pipeline of proprietary pathogen-specific antibiotics. The company will also improve the development of its discovery platform PasNas, able to identify new pathogen-specific antibiotics designed to selectively attack and kill multi-drug-resistant bacteria.

Company
Founded in 2014 as a spinoff from Spanish pharmaceutical company Ferrer and based in Barcelona, Abac Therapeutics develops pathogen-specific antibiotics designed to treat infections caused by multi-drug-resistant bacteria.

People
Abac Therapeutics – Albert Palomer (co-founder and CEO); Domingo Gargallo-Viola (co-founder and CSO).

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• Topics
• Early-stage
• Southern Europe
• Healthcare
• Spain
• Venture