Adaptive Phage Therapeutics Raised Additional $20M; Increases Series B to $61M

$20 million in additional funding was provided to Adaptive Phage Therapeutics, Inc., a Gaithersburg MD-based clinical-stage biotechnology company that develops treatments for infectious disease.

As a co-investor, the AMR Action Fund joined an existing $41m Series A round. Deerfield Management Company initiated the round in May 2021. Participation from two institutional investors and Mayo Clinic was also included. Martin Heidecker, Ph.D., Chief Investment Officer of the AMR Action Fund, will join APT’s Board of Directors.

Proceeds of the AMR Action Fund’s investment are primarily intended to support APT’s clinical trials to address substantial unmet patient needs in Prosthetic Joint Infection (PJI) and Diabetic Foot Osteomyelitis (DFO).

Greg Merril, the chief executive officer and co-founder, is leading Adaptive Phage Therapeutics. This clinical-stage company is developing therapies to treat multidrug-resistant infections. Its approach leverages a library of systematically discovered, selected, catalogued, and curated bacteriophages (phages), which collectively provide broad coverage against many of the world’s highest priority antibiotic-resistant bacteria. Phages from APT phage bank are matched to treat patient’s infections through a proprietary susceptibility assay that APT has teamed with Mayo Clinic Laboratories to commercialize on a global scale.

The company’s technology was originally developed at the National Institutes of Health (NIH) by APT co-founder Carl R. Merril, MD CAPT USPHS (ret) and further advanced within a biodefense program of U.S. Department of Defense. APT obtained the exclusive worldwide commercial rights in 2017.

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