smartbax GmbH Raises €6.3 Million in Pre-Series A Funding
smartbax GmbH, a Munich-based biotech company focused on developing innovative antibiotics to tackle multi-drug-resistant bacteria, has successfully raised €6.3 million in a Pre-Series A funding round. The round was led by a Frankfurt-based single family office, alongside contributions from Anobis Asset, Bayern Kapital, Boehringer Ingelheim Venture Fund (BIVF), HTGF – High-Tech Gründerfonds, and UnternehmerTUM Funding for Innovators.
Strategic Use of Funds
The funds from this round are earmarked to advance smartbax's lead antibacterial program, which was recently in-licensed from Aicuris. The program targets a unique step in the biosynthesis of lipopolysaccharides (LPS), crucial components in the outer membranes of Gram-negative bacteria. This approach has already shown in vivo proof of concept, including activity against multi-drug-resistant pathogens, and potential for oral bioavailability.
Aside from progressing the lead program through preclinical development and IND filing, smartbax plans to continue developing its proprietary pipeline of small-molecule antibiotics. This includes two activator programs designed to stimulate bacterial hydrolases, promoting bacterial self-digestion via a novel mechanism. These programs target both Gram-positive and Gram-negative pathogens, showing promising drug-like properties and biofilm eradication activity.
Leadership Insight
Robert Macsics, Co-founder and CEO of smartbax, emphasized the importance of this funding in advancing their mission to combat antibiotic resistance. "This investment will enable us to push forward with our innovative programs, which are crucial in the fight against resistant bacteria," said Macsics.
Investor Confidence
The participation of a diverse group of investors, including a lead investment from a Frankfurt-based single family office, highlights the confidence in smartbax's approach and potential impact in the global health sector. The backing from reputable entities such as Bayern Kapital and Boehringer Ingelheim Venture Fund further solidifies the company's position in the biotech industry.
Outlook
With the secured funding, smartbax is well-positioned to make significant strides in its antibiotic development efforts, addressing the critical global issue of antibiotic resistance. The company's innovative approach and robust pipeline promise to contribute meaningfully to global health solutions.