X-Biotix Therapeutics Announces Change in Corporate Strategy
WALTHAM, Mass.–(BUSINESS WIRE)–X-Biotix Therapeutics, Inc. (X-Biotix), a biotechnology company focused on the discovery and development of first-in-class antibiotic compounds targeting multi-drug-resistant Gram-negative pathogens, announced today a change in its strategy, which will include suspension of its current antibacterial research efforts. The company will instead focus on submitting manuscripts that describe its progress in developing novel small molecules that demonstrate inhibitory activity against multi-drug resistant Gram-negative bacteria and on strengthening its intellectual property position with additional filings. X-Biotix has developed comprehensive intellectual property covering a wide range of novel chemical matter for its research programs and will continue to explore out-licensing or new funding opportunities for these programs. The company hopes that, in light of the urgent threat of antimicrobial resistance that exists globally, appropriate funding and sponsorship will emerge to facilitate continuation of its critical early-stage work in this field.
X-Biotix was founded in 2016 on the basis of screening novel targets using chemical matter from DNA-encoded libraries containing hundreds of billions of molecules to treat infections caused by the most critical group of Gram-negative multi-drug resistance bacteria, including Acinetobacter, Pseudomonas and various Enterobacteriaceae. Supported by Series A funding raised through a group of private investors in 2018, the company employed a unique combination of proprietary biological and genetic tools, library screening and its deep knowledge of antibacterial medicinal chemistry to discover and advance novel tractable chemical matter into a pipeline of first-in-class programs. Two of these programs are directed against LpxA and LpxC, Gram-negative biological targets involved in the scientifically validated lipopolysaccharide biosynthetic pathway and for which there are no currently marketed antibiotics.
“I am extremely proud of the efforts the team has pursued since the company’s inception as well as the scientific and business accomplishments that have been achieved with the support of our Series A financing,” said Ramani Varanasi, President, CEO and Co-Founder of X-Biotix. “I am also truly grateful to our investors for supporting the technology and the team, and to our collaborators who embarked on this discovery and development journey with us. Our plan is to contribute to and further advance the field of antibacterial drug discovery by submitting for publication the scientific data on our first-in-class LpxA and LpxC compounds, as the company continues to explore opportunities to advance these programs.”
Despite the clear need for more antimicrobial agents directed at resistant strains, few such drugs have advanced through the R&D pipeline and made it to market. “This issue is driven by a critical lack of sustained sources of funding to support early-stage research in this field, combined with lack of an appropriate market infrastructure to support the successful commercialization of novel antibiotics,” said Stephen Isaacs, Chairman of X-Biotix. “Policy makers must enact market-based reforms, including reimbursement reform and commercial ‘pull’ incentives, in order to revitalize the antibiotics market and drive sustainable investments in antibiotics R&D.”
About Antimicrobial Resistance and Gram-negative Multi-drug-resistant Infections
Antimicrobial resistance is one of the greatest threats to global health. Without innovation, we risk falling into a post-antimicrobial era in which minor infections will become life threatening, and routine medical procedures will be nearly impossible to perform. Resistant infections cost the US $20B in excess healthcare costs and $35B in lost productivity. The World Health Organization predicts that by 2050, antimicrobial resistance could cause 10 million deaths each year, surpassing the projected number of deaths due to cancer. Notably, antimicrobials have a prominent role in the treatment of secondary bacterial infection complications of viral respiratory infections, such as the novel coronavirus (COVID-19).
Gram-negative multi-drug-resistant infections represent a critical unmet public health need, with over 1.5 million drug resistant infections in the U.S. each year. The landscape for commercialization of novel antibacterial therapies is rapidly evolving, and there remains a large market opportunity for both broad and narrow spectrum agents that target novel pathways that avoid cross-resistance to existing antibiotics. There is a particularly acute need for agents that address multi-drug resistant Gram-negative pathogens implicated in sepsis, hospital and ventilator acquired pneumonia (HAP and VAP), and other complicated hospital-acquired and community-based infections.
About X-Biotix Therapeutics, Inc.
X-Biotix is a discovery and development company, with a focus on delivering the next generation of antibiotics to combat multi-drug resistant Gram-negative pathogens. The company was incorporated in 2016 and is located in Waltham, MA. X-Biotix is advancing multiple first-in-class small molecule compounds, identified using a unique DNA-encoded library platform, against a wide range of bacterial targets in essential pathways, which are predicted to defeat known antibiotics resistance mechanisms. Co-founders of the company include distinguished faculty from Harvard Medical School, with expertise in biological mechanisms of cell envelope biosynthesis, antibiotic resistance and efflux. For further information, please visit: http://www.x-biotixrx.com/
Contacts
X-Biotix Therapeutics, Inc.
Stephen T. Isaacs
Chairman, Board of Directors
510-504-0263
