PhagoMed Selected as Leading Young European Biotech Company

Synthetic Biology platform convinced EIT Health Catapult Jury. PhagoMed awarded as Top 3 Biotech.
By: PhagoMed
 
VIENNA - Dec. 4, 2020 - PRLog -- PhagoMed Biopharma GmbH came 2nd and won 20.000 EUR in one of the toughest contests for young European biotech companies, namely the Health Catapult of the European Institute of Innovation and Technology (EIT). The company´s synthetic lysin platform with bacterial vaginosis as a first target indication was selected by an international jury as a leading biotech innovation in Europe in 2020. The EIT Health Catapult is a year-long multistage challenge designed to identify and accelerate promising European start-ups in the categories of Biotech, Medtech and Digital Health.

Yesterday afternoon the Austrian biotech company PhagoMed Biopharma GmbH won second place in the EIT Health Catapult. The company impressed the judges across multiple stages with its novel approach to treat debilitating bacterial infections by using phage-based proteins, so-called lysins. The international contest started in May and comprised several levels of competition. During the final stage in December one winner and two runner-up were chosen from 7 finalists in the biotech category. During the contest each team pitched their solution to the EIT Health network, one of the largest healthcare communities worldwide including over 150 leading healthcare organisations.

PhagoMed's lead program is an engineered phage endolysin that offers a highly innovative and precise therapy for recurrent bacterial vaginosis, a disease for which no effective treatment option exists. Recently, PhagoMed released data showing that their drug candidate not only lyses the bacterial strain mainly responsible for the infection, but also fully dissolves resistant biofilms. Furthermore, due to the high specificity of the endolysin, the beneficial microbiome remained unharmed. This combination of high efficacy and high precision makes the endolysin a highly innovative solution for recurrent bacterial vaginosis, which affects 100 million women every year.

Impressed by the alternative the company´s portfolio offers to traditional antibiotic treatments that fail in bacterial vaginosis and, on top, experience increasing resistance problems, PhagoMed was selected at the regional final in May 2020 where it competed against finalists from Germany, Switzerland and Austria. In the semi-finals in October the company was not only selected for the December finals but was also awarded the LallianSe price for most exciting market access opportunity. The 2nd place of the overall competition the company now reached comes with an award of 20.000 EUR and is a strong sign of the resurgence of interest in novel anti-bacterials and in PhagoMed's lead program in recurrent bacterial vaginosis.

Video: Bacterial Vaginosis & PM-477: https://youtu.be/dDnodf64EW0

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Tags:PhagoMed
Industry:Science
Location:Vienna - Vienna - Austria
Subject:Awards
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