Novo Holdings REPAIR Impact Fund Invests US$10m in Curza and Spero
Today, the Novo Holdings REPAIR Impact Fund announced a USD 5.25 million investment in Curza, a small-molecule therapeutics company based in Salt Lake City, Utah, to accelerate its lead program, a new class of antibiotics focused on drug-resistant Gram-negative bacteria.
“Curza is very excited to be working with Novo Holdings. Both companies have a strong commitment to bringing new antibiotics to the market to combat the growing threat of drug-resistant bacteria. Novo Holdings’ commitment to Curza allows the company to accelerate the development of a much-needed novel class of antibiotics,” said Ryan Davies, Curza’s Chief Executive Officer.
The REPAIR Impact Fund has also invested USD 5 million [plus potentially additional USD 5 million] in Spero Therapeutics (NASDAQ: SPRO), a clinical-stage biopharmaceutical company. Spero will advance its SPR720 program, an oral antibiotic being developed for the treatment of non-tuberculous mycobacterial (NTM) infections.
“Spero and Novo Holdings are both committed to addressing the growing, global problem of antibiotic resistance, and funding from this offering will provide additional capital to advance SPR720 and our robust pipeline of product candidates designed to combat antibiotic resistance,” said Ankit Mahadevia, Spero’s Chief Executive Officer.
The investments have been made following the REPAIR Impact Fund’s US/Canadian investment round targeting companies in North America developing novel anti-infectives, which opened in September 2018. The fund received 52 investment proposals which have been studied by the REPAIR Impact Fund’s Scientific Selection Board, narrowing the field down to a few selected companies suitable for investment.