Subject: LIC
PRECISIO BIOTIX THERAPEUTICS ANNOUNCES COLLABORATION WITH MAYO CLINIC
The announcement by Mark Engel, Precisio Biotix's Chairman and CEO, highlights another step by Precisio Biotix to advance novel precision biological antibacterials.
DOVER, Del., March 14, 2024 /PRNewswire/ -- Precisio Biotix Therapeutics ("Precisio") today announced it has entered into an agreement with Mayo Clinic. The collaboration will include co-development of novel precision antibacterials targeting indications prone to antimicrobial-resistant (AMR) infections.
Precisio creates lower cost novel precision biological antibacterials with a focus on lung and skin infections. The Company's key assets include: (1) LysiThrutm, the Company's industry-leading high throughput screening, engineering, and AI system for creating best- or first-in-class novel lysins (engineered precision enzymes that rapidly break targeted bacterial cell walls without causing resistance); (2) a strong pipeline of lysin and phage products that will be able to address multiple problematic bacterial diseases, including AMR infections; and (3) one of the strongest scientific teams to address the global need for novel medicines to fight AMR infections.
Mayo Clinic has assets and know-how that complement Precisio's lysins. Dr. Assaf Raz, VP of R&D, stated: "We are delighted to work with Mayo Clinic. We see this collaboration as an opportunity for validation of our technology. We believe that when combined with Mayo Clinic's expertise, our precision biological antibacterials will be even more effective. Together we will be addressing some of the largest bacterial disease problems, particularly antibiotic resistance."
Precisio's Chairman Mark Engel added "Developing novel antibacterials is a very difficult business. We are working with lysins, since they attack pathogen cell walls, a mode of action that does not lead to antibiotic resistance. Lysins are one of the most powerful potential new modalities for treating AMR infections. Lysins are enzymes that specifically target and rapidly break down the cell walls of bacteria without creating new resistance and therefore can be used as alternatives to traditional antibiotics, particularly where these no longer work well against specific antibiotic-resistant infections."
Dr. Raymond Schuch, VP, Director of US Operations further added "Antibiotic resistance is one of the world's great health challenges. And this collaboration may result in patients having faster access to novel therapeutics."
Precisio is represented by Corporate Partners, a New York-based merchant bank. Partner Mario Gobbo said, "Precisio is a unique organization and we are pleased to be working with management who have built several successful life science companies. Precisio thus far has been funded by family capital: they are highly capital efficient and derisk their R&D whenever possible."
Mayo Clinic has a financial interest in the technology and will use any revenue it receives to support its patient care, education and research.
ABOUT PRECISIO BIOTIX THERAPEUTICS
Precisio is a clinical-stage biotech company creating lower-cost novel precision engineered biological antibacterials, with an initial focus on skin and lung infections. Precisio is a platform-plus-product company (Rx, consumer). Management has had multiple previous successful exits.
Contacts: Aileen Shen, Director of Investor Relations, at [email protected] or Daniela Wambold, Corporate Partners, [email protected]
SOURCE Precisio Biotix Therapeutics, Inc.
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