Absynth Biologics, the Sheffield University biotechnology spin-out, has secured £850,000 to help it develop a vaccine against drug resistant hospital superbug MRSA.
The Leavygreave Road Bioincubator-based business, which was advised by city law firm Irwin Mitchell, secured the cash from new and existing investors.
Fusion IP, the Sheffield-based company that finds funds to commercialise the results of university research and owns 43 per cent of Absynth, has invested £450,000, while The North West Fund for Biomedical is putting in the rest of the money
Fusion says Absynth’s novel approach to developing vaccines and therapeutic antibodies has the potential to succeed where others have previously failed.
The new vaccine Absynth is developing could combat both staphylococcus aureus and its drug-resistant form, MRSA.
The company is also developing vaccines to prevent clostridium difficile, which causes diarrhoea, and streptococcus pyogenes, which can cause life threatening skin and throat infections.