Glox Therapeutics, a company pioneering the development of precision antibiotic therapies based on naturally occurring bacteriocins, today announced it has raised £4.3M in seed funding to develop effective targeted therapeutics against antibiotic-resistant Gram-negative bacteria. The Company will use the funding to establish laboratories in Oxford and Glasgow and expand its team to accelerate its bacteriocin development programme. The investment round was led by Boehringer Ingelheim Venture Fund and Scottish Enterprise.
Antimicrobial resistance (AMR) is a major public health crisis throughout the world. It is estimated that around 1.27 million people per year die as a result of AMR due to the therapeutic failure of available antibiotics.* By 2050, AMR is predicted to surpass 10 million deaths globally per year at a cost of $100 trillion dollars; hence, there is an urgent need to develop new effective antimicrobial therapeutics.**