Morrisville-based Locus Biosciences just got a $77 million shot in the arm to develop its new antibacterial therapy through gene-editing technology to treat E. coli bacteria-causing recurrent urinary tract infections.
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The round, which kicked off on April 8, is capped at $15 million, with $2.5 million remaining to be sold. Funds raised will be used fo “payments of salary in the ordinary course of business,” the filing indicated.
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Research at North Carolina State University shows that a gene editing system can be used to effectively target and eliminate specific gut bacteria, in this case Clostridioides difficile, the pathogen that causes colitis – a chronic, degenerative disease of the colon.
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Morrisville-based Locus Biosciences, a developer of precision antibacterial therapies using gene editing technology, will conduct the world’s first clinical trial of a recombinant bacteriophage therapy, a major milestone for the field,
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Locus Biosciences, which is developing advanced antibacterial products, has been named by FierceBiotech as one of 2019’s Fierce 15 biotechnology companies.
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Here is a rewind of the past week’s headlines as reported by WRAL TechWire.
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Under the terms of the agreement, Locus will receive $20 million in initial payments and is eligible to receive up to $798 million in potential future development and commercial milestone payments and royalties on any product sales. Here’s a look at the deal and CRISPR science.
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A new licensing deal means $20 million up front and as much as $798 million in potential future payments for RTP-based Locus Biosciences.
Read MoreLoans from the North Carolina Biotechnology Center totaling $1 million will help three bioscience companies develop novel products for better human health. Here are the details.
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