British government-backed fund aids Destiny Pharma to raise £2.8M for XF-73 clinical drug trial

August 4
5:05 PM 2014

Destiny Pharma  recently announced in a press release that it was able to raise £2.8 million to fund the clinical trial of a drug aimed to prevent post-surgical infections. The company's recent funding, which was led by British government-backed Angel CoFund, will aid the company to conduct a clinical trial of its XF-73. Destiny Pharma is a UK-listed pharmaceutical company that develops novel anti-microbial products.

According to the company, the drug is designed to fight one of the most common causes of post-surgical infections, Staphylococcus aureus (SA) and MRSA, its drug-resistant form. A type of nasal treatment, the drug was discovered to be effective against both SA and MRSA straines.

Dr Bill Love, CEO of Destiny Pharma, said about the company's latest funding, "We are delighted to have completed this investment and welcome the Angel CoFund along with other new investors. XF-73 has the potential to become a mainstream treatment for the prevention of SA/MRSA hospital infections and its unique feature of addressing antibiotic resistance can enable the widespread delivery of global patient decolonisation. We look forward to the next stages of developing this drug and to enabling its use in hospitals." 

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