NEW YORK--(BUSINESS WIRE)--Accelerate NY Seed Fund (ANY) and Bioharmony Therapeutics (Bioharmony) announced today an investment by ANY in Bioharmony, a New York-based company developing first-in-class antimicrobials against multidrug resistant bacterial infections. These antimicrobials, called lysins, are enzymes that digest the cell wall of bacteria leading to rapid cell death. ANY invested $100,000 in the company’s seed round.
“The development of lysins for the treatment of multi-drug resistant Gram-negative infections is an innovative and promising approach. If successful, these lysins can be a game-changer in the fight against antibiotic resistance for which there are few or no cures,” said Peter Donnelly, Managing Director of ANY.
"Investments in high-tech companies like Bioharmony are a key component of our innovative strategy to create jobs and grow New York's economy," said Empire State Development (ESD) President, CEO & Commissioner Howard Zemsky. "ESD is proud to support ANY as we continue to build a robust emerging-tech cluster across Long Island, New York City and the Mid-Hudson regions."
“We are very grateful to ANY for their confidence in Bioharmony,” commented Chandrabali Ghose, Ph.D, founder and CEO of Bioharmony Therapeutics. “Antibiotic resistance is a global health problem that needs to be addressed urgently. We hope that our novel approach of developing lysins will have a positive impact in the fight against antibiotic resistance. With the support from ANY, we look forward to advancing BH01, a topical lysin specific for Acinetobacter skin infections, into preclinical development.”
The company is focused on developing lysin-based therapeutics especially for multidrug resistant gram-negative bacteria such as Acinetobacter, Klebsiella and E.coli that have high rates of mortality. The World Health Organization considers Acinetobacter baumannii to be a critical priority pathogen against which there are few treatment options available. In addition to targeting such infections when the patients become septic, Bioharmony’s technology is designed to control the infection locally on the skin, in the lungs or in the bladder.
“Bioharmony is one of Xontogeny’s portfolio companies and we are delighted with its progress. ANY’s seed support provides further validation for the company’s focus to develop first-in-class antimicrobials. Lysins represent a unique class of antimicrobials that are well differentiated from current antimicrobial products against infections caused by Acinetobacter in particular, and have the potential to advance treatment options against multi-drug resistant bacterial infections in general,” commented Chris Garabedian, Chairman of the Board of Bioharmony and CEO of Xontogeny.
About Bioharmony Therapeutics, Inc.
Bioharmony Therapeutics, Inc. is an emerging biopharmaceutical company focused on the discovery and development of first-in-class lysin-based antimicrobial therapeutics for patients with multi-drug resistant Gram-negative bacterial infections. Bioharmony’s portfolio includes a robust line-up of lysin-based antimicrobials that target the deadliest infections caused by Gram-negative bacteria. For more information, please visit https://www.bioharmonytherapeutics.com/, contact Chandra@bioharmonytherapeutics.com or follow the company on Twitter at @bioharmonytrx.
About Accelerate NY Seed Fund
The Accelerate NY Seed Fund, supported by Empire State Development, invests in emerging scientific and engineering-based new ventures in the Long Island, NYC, and Mid-Hudson regions, most frequently founded on innovation at a research institution. By engaging high potential innovation at the very earliest stages of commercialization, the fund seeks to catalyze other investment, attract specialized expertise, and shape development plans that realize capital efficient outcomes sufficient to secure further funding. For more information, please visit http://www.anyseedfund.com or contact email@example.com.
About Xontogeny, LLC
Based in Boston, MA, Xontogeny seeks to accelerate the development of life science technologies by providing entrepreneurs with the leadership, strategic guidance and operational support necessary to increase the probability of success in early drug and technology development. Through a differentiated approach, the Xontogeny team partners with the founding scientists and entrepreneurs of new ventures to support their vision while allowing a more efficient development model to benefit company founders and early equity holders. For more information, please visit www.xontogeny.com, contact Xontogeny by emailing firstname.lastname@example.org or follow the company on Twitter at @xontogeny.