MGB Biopharma Welcomes Jim O'Neill's Final Recommendations for the World to Defeat Superbugs

GLASGOW, Scotland, May 19, 2016 /PRNewswire/ --

MGB Biopharma, a Biopharmaceutical Company Developing a Truly Novel Class of Anti-infectives, Welcomes the Final Instalment of Lord Jim O'Neill's Review on Antimicrobial Resistance (AMR), Published Today  

Lord Jim O'Neill's global Review on AMR sets out its final recommendations, providing a comprehensive action plan for the world to prevent drug-resistant infections and defeat the rising threat of superbugs - something that could kill 10 million people a year by 2050, the equivalent of one person every three seconds, and more than cancer kills today. Building on eight interim papers, this is the final report from Lord O'Neill's Review, established by the UK Prime Minister David Cameron in 2014 to avoid the world being "cast back into the dark ages of medicine".

Dr Miroslav Ravic, CEO of MGB Biopharma, said, "We are pleased the major problem of antimicrobial resistance is receiving the attention it clearly deserves. The need for novel and differentiated products to tackle antimicrobial resistance is clear and requires new and radical thinking from a broad range of stakeholders. MGB Biopharma is one of the very few companies developing a truly novel class of antibiotics designed to tackle the infections caused by multi-resistant bacterial pathogens. Our lead candidate MGB-BP-3 has the potential to become one of the first truly novel classes of antibiotic, with no prior resistance, to be approved in over 10 years."

Raymond Spencer, CFO of MGB Biopharma, said, "The figures contained in Lord O'Neill's review, and in particular the potential human cost of not addressing antibiotic resistance, are alarming. We welcome the recommendations contained in this report. We hope that innovative companies like MGB can benefit from the Global AMR Innovation fund and 'market entry rewards' proposed by Lord O'Neill to encourage the supply of new antibiotics."

MGB Biopharma has recently successfully completed a Phase I clinical trial of an oral formulation of MGB-BP-3 for the treatment of Clostridium difficile infections. MGB-based anti-infectives have the potential to deliver significant advantages over current approaches based on broad, bactericidal activity against multi-drug resistant Gram-positive pathogens. Other compounds from the platform have shown the potential to treat infection caused by Gram-negative, viral, fungal and parasitic organisms.

While pursuing its clinical development activities MGB Biopharma is now evaluating partnering and funding sources for its lead compound MGB-BP-3, which has the potential to offer a clear differentiated treatment option for patients with life threatening infections caused by resistant Clostridium difficile.

About MGB Biopharma: 

MGB Biopharma is a clinical stage company developing a truly novel class of anti-infectives. Its lead candidate, MGB-BP-3, is an antibacterial which is active against a broad range of important multi-resistant and susceptible Gram-positive pathogens. The Company has developed an oral formulation of MGB-BP-3 for the treatment of Clostridium difficile. The Phase I study is complete, and MGB Biopharma is now progressing with Phase II activities for this indication. An intravenous formulation targeting the treatment of a range of systemic hospital acquired Gram-positive infections is in late-stage preclinical development, and a topical formulation for the treatment of serious skin infections showed encouraging efficacy data.

MGB Biopharma has acquired rights to the proprietary minor groove binder (MGB) platform, developed at the University of Strathclyde, Glasgow, with exclusive worldwide licensing rights for all anti-infective fields, including Gram-negative bacteria. This platform provides an opportunity to develop various compounds with a completely new mode of action which are distinct from the antimicrobial drugs used in clinical practice today. As a result many MGB-based drugs offer significant advantages over existing anti-infectives, such as MGB-BP-3, which exhibits high efficacy against many multi-drug susceptible and resistant Gram-positive pathogens. To date, no resistance to MGB compounds has been observed.

The Company intends to work with partners to fully capitalise on the multiple value creating opportunities offered by its broad and innovative anti-infectives platform.

The Company, founded in 2010 and headquartered in Glasgow, Scotland, is backed by Scottish investors including Archangel Investors, Barwell, TRI Cap and the Scottish Investment Bank, Scottish Enterprise.

For more information, please visit: http://www.mgb-biopharma.com

Or follow MGB Biopharma on Twitter @MGB_Biopharma

For further information, please contact: 

MGB Biopharma
Miroslav Ravic, Chief Executive Officer   
enquiries@mgb-biopharma.com  
+44-(0)-208-946-0120               

Citigate Dewe Rogerson
David Dible/Sylvie Berrebi
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+44-(0)-20-7282-2949