A novel anti-bacterial agent which has been developed in Scotland by MGB Biopharma (MGB) for the treatment of Clostridium difficile infections, is to enter Phase II clinical trials following a newly-completed £1.3m fund raise from existing and new investors, supplementing a £2.7m grant awarded earlier this year by Innovate UK.
The £1.3m funding round was led by Edinburgh-based Archangels, with co-funding from the Scottish Investment Bank -the investment arm of Scotland’s enterprise agencies, Barwell PLC and Melrose-based Tri Capital, and introduced crowdfunding investor, Syndicate Room, to the shareholder register for the first time.
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