Biopharmaceutical company Revagenix has announced the successful completion of its Series B funding round, accompanied by significant additions to its board of directors. The round, led by core investors Tenmile and Novo Holdings, raised funds crucial for the development of innovative antibiotics to combat antibiotic resistance, a critical global health challenge.
The newly appointed members to Revagenix’s board of directors include Cristina Larkin, Bruce Montgomery, MD, and Michael Lamprecht, PhD. Their expertise is expected to contribute significantly to the company’s mission of creating life-changing antibiotics through scientific innovation and strategic leadership. Ryan Cirz, PhD, Chief Executive Officer and director of Revagenix, emphasized the importance of these developments as pivotal milestones in the company’s growth.
Revagenix aims to address the urgent need for effective antibiotics, considering antibiotic resistance as a major public health crisis. Dr. Cirz highlighted the significance of the new directors in enhancing the company’s capability to tackle scientific and commercial challenges in the field.
Tenmile managing director Steve Burnell, PhD, expressed confidence in Revagenix’s vision and potential to bring critical solutions to the global health challenge of antibiotic resistance. The Series B financing, led by Tenmile, is considered a testament to the belief in the company’s innovative antibiotic programs.
The funding round complements existing support from two product development contracts with the National Institute of Allergy and Infectious Diseases (NIAID). Andrew McCandlish, PhD, Chief Operating Officer and director at Revagenix, emphasized the importance of public and private collaboration in advancing antibiotic research and development programs.
As part of the transition, two former directors, Andrew Calabrese and Aleks Engel, will step down from the board. Ryan Cirz expressed gratitude for their contributions to the company’s formation and growth.
Novo Holdings partner Aleks Engel highlighted the transformative potential of Revagenix in addressing the urgent need for effective antibiotics. He expressed confidence in the company’s strategic direction and the expertise of its team, particularly recognizing the invaluable contribution of Bruce Montgomery, MD, in the development and commercialization of antibiotics.
Revagenix, with strengthened leadership capabilities and continued support from investors and partners, is well-positioned to tackle the challenges in developing new antibiotic therapies. Dr. Cirz expressed excitement about the company’s journey and its commitment to delivering impactful innovations to the healthcare sector.
