SANTIAGO, Chile--(BUSINESS WIRE)--PhageLab, a biotechnology company developing bacteriophage-based applications to seek and destroy multidrug resistant bacteria in the livestock industry, announced today a $11 million funding round with investment from Nazca, Collaborative Fund, Water Lemon Ventures and individual investor Kevin Efrusy.
The funding will enable PhageLab to advance its pipeline of phage-based solutions and establish a commercial position in Brazil, its main target market and expand its technology into the US. PhageLab will also use the funding to expand its global team, which currently has close to 100 employees across Latin America and Europe.
Bacteriophages are small viral particles that can recognize and eliminate pathogenic bacteria, and are a natural alternative to heavy antibiotic use for the treatment of livestock infections. Antibiotic-resistant outbreaks in livestock farming have been increasing, due to the high emergence rate of multidrug treatment-resistant bacteria. Since 2019, 50% of all antibiotics used in intensive animal farming have become ineffective, and more than 4.95 million deaths worldwide were related to multidrug resistance.
PhageLab’s proprietary microbial bioinformatics platform is designed for the search and development of bacteriophage-based treatments. The platform employs AI to generate “customized cocktails,” that can effectively manage pathogenic bacteria in the livestock industry and reduce antibiotic dependence. The training dataset for this platform is based on more than a decade of experimentation data and tested phage repositories, to create one of the world’s largest industrial bacterial databases. PhageLab uses this library to create custom solutions in 45 days, that is safe and effective for use to eliminate livestock bacteria.
"We’re thrilled to attract a top-tier investor syndicate that supports our business and mission of combating antibiotic resistance," said Hans Pieringer, CEO & Co-Founder, PhageLab. "Solving the antibiotic resistance crisis requires multi-stakeholder collaboration across industry, policy, and science, and we are committed to developing the best solutions possible. Starting in animal health allows us to expand our global impact quickly, and this funding will enable our expansion into both new geographies this year, as well as product development."
"PhageLab is focused on progressing breakthrough science that provides long-term solutions to today’s global antibiotic resistance challenges," said Kevin Efrusy. "The company is a true pioneer in the industry, bringing not one, but two never before seen phage-based solutions to market that have tremendous potential to innovate and advance sustainability in our food system and human health. Unlike traditional biotechs, PhageLab has a shorter development time to commercialization at lower cost of capital. The company is already making an impact in addressing the growing health concern of multidrug antibiotic resistance."
“PhageLab's technology, backed by one of the world's largest industrial bacteria databases, represents a transformative approach to combating antibiotic-resistant outbreaks. We are thrilled to support this world-class team as they scale their initial products serving poultry farms in Brazil and expand into new markets and applications,” said Luisa Sucre, Principal at Collaborative Fund.
“We're excited to be part of PhageLab's journey, a true Latin American trailblazer dedicated to tackling worldwide health and food security issues. Their remarkable technology, coupled with an outstanding team, fills us with pride as we welcome them into our portfolio,” said Hector Sepulveda, Managing Partner, Nazca. “Together, we're reshaping the battle against antibiotic resistance and propelling the future of livestock health – a cause close to our hearts.”
PhageLab has a marketed product that eliminates and reduces the presence of Salmonella spp. in broiler chicken farms, called INSPEKTOR. PhageLab is about to launch its E. coli product for broiler chicken farms and develop products to prevent infectious diarrhea in pigs. PhageLab also has a service for clients that identifies, detects and characterizes microorganisms within livestock production.
PhageLab will deliver an oral presentation demonstrating the successful reduction of Salmonella on poultry farms in Brazil through the application of its custom-made bacteriophage cocktail at the International Production and Processing Expo (IPPE) in Atlanta, Georgia, January 30-February 1, 2024. To connect with our team on-site contact: hello@phage-lab.com.
About PhageLab
PhageLab is a biotechnology company that develops precision bacteriophage treatments to reduce the overuse of antibiotics to control bacteria in breeding processes in the livestock industry. Founded in 2010, PhageLab has developed a platform based on deep epidemiological diagnostics to create effective results in bacterial population control based on data collected over a decade. The company’s mission is to develop personalized bacteriophage treatments to treat global bacterial challenges. PhageLab is headquartered in Santiago, Chile with offices in Spain and Brazil. For more information, visit https://phage-lab.com.
