BRIEF—Destiny raises £11.5 million to buy C. difficile candidate

Brighton, UK-based infectious diseases specialist Destiny Pharma has announced an £11.5 million ($15 million) fundraising round, through the issuance of new shares.

The money will be used to acquire the global rights to NTCD-M3, a mid-stage candidate for the prevention of C. difficile infection. It will also be used to complete Phase III trial preparations and clinical planning.

The acquisition adds to another microbiome asset, the COVID-19 candidate SPOR-COV, which was picked up in September 2020.

Chief executive Nick Clark said: "NTCD-M3 is a potential breakthrough in CDI treatment targeting a market that is forecast to grow to $1.7 billion by 2026.”