Allecra gets 22 million Euros funding; to be used to develop novel antibiotic

Allecra Therapeutics, a France-based biopharmaceutical company dedicated to the development of novel antibiotics to combat drug-resistant bacterial infections, announced today the closing of its 22 million euros ($24.9 million) Series B investment round.

The round was led by new investor, Delos Capital. Existing investors Forbion Capital Partners, Edmond de Rothschild Investment Partners, EMBL Ventures and Allecra’s co-founder Nicholas Benedict also participated.

The proceeds will fund Phase II development of AAI202, Allecra’s proprietary, novel antibiotic combination designed to treat drug-resistant Gram-negative bacterial infections. AAI202 is a combination of a powerful β-lactam antibiotic together with a proprietary, novel Extended Spectrum β-Lactamase Inhibitor. The combination is designed for use as broad-spectrum antibacterial therapy to treat hospitalized patients who contract infections caused by Gram-negative bacteria proven or suspected to express certain resistance mechanisms, particularly extended-spectrum β-lactamases (ESBLs).