MGB Biopharma Wins Scottish Business Award

MGB Biopharma, a biopharmaceutical company specializing in the development of novel anti-infectives to antibiotic resistance, has been named a winner in the 2015 Scottish Business Insider Deals & Dealmakers Awards.

MGB Biopharma was one of three shortlisted finalists for the “Early Stage/Risk Capital Deal of the Year” category, sponsored by Morisons Solicitors, which is awarded for a deal made by an early stage company.

The judging criteria included the quality of the investment capital, the level and complexity of the syndication of the investment, the scale of market opportunity for the company and potential return for investors, and the role of the management team and its advisers in realizing the deal.

Over the past year, the MGB raised £4 million to develop its novel antibacterial compound, MGB-BP-3, for the treatment of Gram-positive hospital acquired infections. The funding has been provided by a syndicate of investors, led by Archangels, and includes existing investors Barwell PLC, TRI Cap, and the Scottish Investment Bank, the investment arm of Scottish Enterprise.

Miroslav Ravic, CEO of MGB Biopharma, commented in a press statement that the company has made good progress in securing funding to advance the development of their lead compound. “We believe that our novel candidate, which originated from the University of Strathclyde, has the potential to transform antimicrobial resistance, by bringing true novelty to the market, not seen for over a decade,” said Ravic.

The Scottish Business Insider Deals & Dealmakers Awards acknowledge and reward excellence in corporate finance. The awards are based on deals completed by this community in the fiscal year 2014/15. The Awards were presented at a prestigious awards ceremony dinner in the Hilton Hotel, Glasgow on 9th September 2015.

Source: MGB Biopharma