PhageLab – a biotechnology company developing bacteriophage-based applications to seek and destroy multidrug resistant bacteria in the livestock industry – announced today a $11 million funding round with investment from Nazca, Collaborative Fund, Water Lemon Ventures and individual investor Kevin Efrusy.
This funding round will enable PhageLab to advance its pipeline of phage-based solutions and establish a commercial position in Brazil, its main target market and expand its technology into the US. And PhageLab will also use the funding to expand its global team, which currently has close to 100 employees across Latin America and Europe.
Bacteriophages are small viral particles that recognizes and eliminates pathogenic bacteria, and are a natural alternative to heavy antibiotic use for the treatment of livestock infections. And antibiotic-resistant outbreaks in livestock farming have been increasing due to the high emergence rate of multidrug treatment-resistant bacteria. Many of the antibiotics used in intensive animal farming have become ineffective and more than 4.95 million deaths worldwide were related to multidrug resistance.
PhageLab’s proprietary microbial bioinformatics platform was designed for the search and development of bacteriophage-based treatments. And the platform employs AI to generate “customized cocktails,” that can effectively manage pathogenic bacteria in the livestock industry and reduce antibiotic dependence.
The training dataset for this platform is based on over a decade of experimentation data and tested phage repositories, to create one of the world’s largest industrial bacterial databases. And PhageLab uses this library to create custom solutions in 45 days, that is safe and effective for use to eliminate livestock bacteria.
PhageLab has a marketed product that eliminates and reduces the presence of Salmonella spp. in broiler chicken farms called INSPEKTOR. And PhageLab is about to launch its E. coli product for broiler chicken farms and develop products to prevent infectious diarrhea in pigs. PhageLab also has a service for clients that identifies, detects and characterizes microorganisms within livestock production.
KEY QUOTES:
“We’re thrilled to attract a top-tier investor syndicate that supports our business and mission of combating antibiotic resistance. Solving the antibiotic resistance crisis requires multi-stakeholder collaboration across industry, policy, and science, and we are committed to developing the best solutions possible. Starting in animal health allows us to expand our global impact quickly, and this funding will enable our expansion into both new geographies this year, as well as product development.”
– Hans Pieringer, CEO & Co-Founder, PhageLab
“PhageLab is focused on progressing breakthrough science that provides long-term solutions to today’s global antibiotic resistance challenges. The company is a true pioneer in the industry, bringing not one, but two never before seen phage-based solutions to market that have tremendous potential to innovate and advance sustainability in our food system and human health. Unlike traditional biotechs, PhageLab has a shorter development time to commercialization at lower cost of capital. The company is already making an impact in addressing the growing health concern of multidrug antibiotic resistance.”
– Kevin Efrusy
“PhageLab’s technology, backed by one of the world’s largest industrial bacteria databases, represents a transformative approach to combating antibiotic-resistant outbreaks. We are thrilled to support this world-class team as they scale their initial products serving poultry farms in Brazil and expand into new markets and applications.”
– Luisa Sucre, Principal at Collaborative Fund
“We’re excited to be part of PhageLab’s journey, a true Latin American trailblazer dedicated to tackling worldwide health and food security issues. Their remarkable technology, coupled with an outstanding team, fills us with pride as we welcome them into our portfolio. Together, we’re reshaping the battle against antibiotic resistance and propelling the future of livestock health – a cause close to our hearts.”
– Hector Sepulveda, Managing Partner, Nazca
