MicrobiotiX Secures Landmark KRW 20 Billion Series B Funding, Catalyzing Korea's First-Ever Bacteriophage Clinical Trial to Combat Superbugs

In a monumental stride towards revolutionizing the fight against antibiotic-resistant superbugs, MicrobiotiX, a pioneering biotechnology company, has successfully closed a KRW 20 billion (approximately USD 15 million) Series B funding round. This significant financial injection is set to ignite a new era in infectious disease treatment, propelling the company to launch Korea's very first clinical trial for bacteriophage therapy, offering a beacon of hope against some of the most formidable bacterial threats.

The Series B round saw robust participation from a consortium of prominent investors, signaling strong confidence in MicrobiotiX's innovative platform and its potential to address a global health crisis.

Lead investors included the esteemed Stonebridge Ventures, IMM Investment, and QUAD Investment Management. Further bolstering this crucial round were contributions from TIMEFOLIO Asset Management and Medici Investment, underscoring the broad belief in the company's vision and technological prowess.

This landmark funding is not merely a financial milestone; it represents a pivotal moment for medical innovation in Korea and across the globe.

By enabling the initiation of Korea's first bacteriophage clinical trial, MicrobiotiX is not only advancing its own groundbreaking therapeutics but also establishing a new frontier for an alternative and highly effective treatment modality in a region increasingly threatened by multi-drug resistant pathogens.

This move positions Korea at the forefront of phage therapy research and development.

MicrobiotiX's initial clinical focus targets the notoriously difficult-to-treat multi-drug resistant Acinetobacter baumannii (MDRAB) infections. Often found in hospital settings, MDRAB is responsible for severe infections, including pneumonia and bloodstream infections, with alarmingly high mortality rates due to limited treatment options.

The company's lead candidate, MBX-01, a highly specialized bacteriophage cocktail, is designed to precisely target and eradicate this tenacious pathogen. MicrobiotiX has already submitted an Investigational New Drug (IND) application for a Phase 1 clinical trial of MBX-01 to Korea's Ministry of Food and Drug Safety (MFDS), signaling their readiness to bring this innovative solution to patients.

Bacteriophages, often referred to as 'bacteria eaters,' are naturally occurring viruses that selectively infect and kill bacterial cells without harming human cells.

Unlike broad-spectrum antibiotics, phages offer an incredibly precise mechanism of action, making them highly effective against specific bacteria and less likely to disrupt the body's beneficial microbiome. Their ability to evolve and adapt also presents a promising solution to the ever-growing challenge of antibiotic resistance, offering a tailored approach where traditional antibiotics have failed.

Sang-Hyun Paik, CEO of MicrobiotiX, expressed profound gratitude and determination, stating, "This successful Series B funding is a testament to the belief in our innovative bacteriophage platform and our unwavering commitment to tackling the global threat of antibiotic resistance.

This investment is not just capital; it's a shared conviction in the power of phage therapy. Launching Korea's first bacteriophage clinical trial marks a critical step towards bringing MBX-01 to patients desperately in need of new treatment options and solidifies our position as a leader in this burgeoning field."

Looking ahead, MicrobiotiX harbors ambitious plans to expand its research and development efforts, with aspirations for global clinical trials, including seeking approval from the U.S.

FDA. The company is committed to broadening its pipeline beyond MBX-01, exploring the therapeutic potential of bacteriophages for a wider array of infectious diseases. With this substantial funding and a pioneering spirit, MicrobiotiX is poised to deliver transformative solutions that could redefine the future of infectious disease treatment, offering renewed hope to patients battling relentless superbugs worldwide.