British F2G Biotech bags €24m

F2G Biotech said it will be spending most of the assets to push forward pivotal clinical trials of its lead compound Olorofim (F901318), a Phase IIb orphan drug against pulmonal Aspergillus infections. Olorofim belongs to a new class of fungistatics called orotomides that target the enzyme dihydroorotate dehydrogenase (DHODH) in the de novo pyrimidine biosynthesis pathway. The compound has been shown to inhibit germination and growth in vitro. According to the Manchester-based company, prolonged exposure is fungicidal through hyphal swelling followed by cell lysis.

In Europe, more than 90,000 people per year suffer from invasive aspergilosis, which can be currently treated with amphotericin, caspofungin, isavucononazole, itraconazole, posaconazole and voriconazole. However, olorofim has been shown to be effective against infections resistant to azole antifungal medicines. Antimicrobial resistance ()AMR) against the current three classes of antifungals is a growing concern.

EIB Vice-President Andrew McDowell said: Fungal infection typically affects the immune-compromised patient where mortality rates are often very high. Our investment in F2G contributes to fighting Antimicrobial Resistance (AMR), which is an area of significant concern for the scientific medical community. In particular, in the area of resistant fungi, there are very few drug candidates available, whereas resistance against the incumbent treatments is increasing year after year in multiple countries. 

An update on the fight against AMR will be given at the 12th Berlin Conference on Life Sciences.