Phico Therapeutics, a biotechnology company developing a new generation of antibiotics to overcome antibacterial resistance, has appointed a new chairman.
The appointment of Richard Nagle follows the company’s recent funding from the Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) to advance its antibacterial therapy.
A total of £13.2 million funding could be made available – in addition to the £7m of funding led by the British Growth Fund – should the project progress successfully to Phase 1 clinical trials.
Nagle is an experienced BioTech executive and has built and developed business solutions across the international biopharma sector.
His focus on accelerating product development has led to successful company exits or IPO, including recent CEO director of Immune Regulation (now Revolo Biotherapeutics), an innovative platform focused on regulating the immune system.
Previously, Nagle served as Non-Executive Director of Peptinnovate and as CEO of a number of successful drug delivery, biotechnology and medical device businesses.
He takes over from Dr. Anthony Martin, who has been Phico’s Chair since 2010.
Dr. Heather Fairhead, Phico founder and CEO, commented: “We are delighted to welcome Richard as Chair of our Board with his wealth of executive and commercial experience.
“This will be invaluable in our next exciting phase as we exemplify SASPject technology in first-in-human intravenous studies and advance the science of antibacterial therapy.
“I would like to thank our previous chair Dr Anthony Martin for his support and dedication over the last 11 years – his guidance has been instrumental in achieving our success.”
Nagle added: “This is an extremely exciting time for Phico Therapeutics, and I am delighted to be joining this dynamic business, which has been at the forefront of building technological solutions to antibacterial resistance.
“I intend to expand our presence both in the UK and Internationally. It is clear that Phico has built a world class team to execute on its clinical development goals and I look forward to working with Dr. Heather Fairhead and the management team in helping them to realise a number of great milestones for the company.”