Cambridge-based company Phico Therapeutics has entered liquidation.
Founded in 2000 by Dr Heather Fairhead, Phico was developing a platform for a new generation of antibiotics to overcome antibacterial resistance, recognised internationally as one of the biggest threats facing global health and the effective treatment of certain diseases.
The technology represented the efforts of more than 20 years’ work from Dr Fairhead and her team.
The BioTech received £7 million in funding in 2021 from a consortium of investors, led by BGF – which contributed £3m – while US non-profit the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) awarded it a grant of up to £13.2m.
However on Friday Allister Manson and Steven John Parker of Opus Restructuring LLP were appointed as liquidators.
BusinessCloud has contacted Phico and Opus Restructuring for further information.