CAMBRIDGE, UK, 28th June 2021: Phico Therapeutics Ltd (‘Phico’), a biotechnology company developing engineered phage technology as the basis of a new generation of antibiotics to overcome antibacterial resistance, today announced the appointment of Richard Nagle as Chair of its Board of Directors. The appointment follows the company’s recent funding from Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) to advance its SASPject antibacterial therapy of up to $5.3million USD to support preclinical development, plus up to $12.86million more if the project progresses successfully to Phase 1 clinical trials, subject to available funding (circa. £13.2million GBP total). This is in addition to the £7m of funding led by British Growth Fund (BGF).
Richard Nagle is an experienced biotech executive and has built and developed business solutions across the international biopharma sector. His focus on accelerating product development has led to successful company exits or IPO, including recent CEO and Board Director of Immune Regulation (now Revolo Biotherapeutics), an innovative biotechnology platform business focused on regulating the immune system, which successfully raised $50million in 2020 from Morningside Ventures, and others. Previously, Richard served as Non-Executive Director of Peptinnovate and as CEO of a number of successful drug delivery, biotechnology and medical device businesses. He was also a Director of IMS Health and Quintiles (now IQVIA).
Richard takes over from Dr. Anthony Martin who has been Phico’s Chair since 2010.
Dr. Heather Fairhead, Phico Founder and CEO commented: “We are delighted to welcome Richard as Chair of our Board with his wealth of executive and commercial experience. This will be invaluable in our next exciting phase as we exemplify SASPject technology in first-in-human intravenous studies and advance the science of antibacterial therapy. I would like to thank our previous chair Dr Anthony Martin for his support and dedication over the last 11 years – his guidance has been instrumental in achieving our success.”
Richard Nagle added: “This is an extremely exciting time for Phico Therapeutics, and I am delighted to be joining this dynamic business, which has been at the forefront of building technological solutions to antibacterial resistance. I intend to expand our presence both in the UK and Internationally. It is clear that Phico has built a world class team to execute on its clinical development goals and I look forward to working with Dr. Heather Fairhead and the management team in helping them to realise a number of great milestones for the company”.
For more information, please visit: www.phicotx.co.uk
View Phico’s SASPject technology here: https://www.youtube.com/watch?v=U27YARVMtkg