ABAC Chief Calls For Better Antibiotic R&D Incentives In Europe
Fresh from raising €16m in a Series A round, Albert Palomer, CEO of Spain's ABAC Therapeutics, has outlined to Scrip the company's pathogen-specific approach to antibiotic research and his fears that biotechs in Europe are being held back by flaws in the continent's 'push' incentives schemes.
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As large biopharmaceutical companies continue to exit antibacterial R&D, investments by Novo Holding’s REPAIR Impact Fund and grants from CARB-X can push forward novel therapies for drug-resistant microbial infections.
The Swiss major says that while the science for its antibacterial and antiviral research programs is compelling, "we have decided to prioritize our resources in other areas where we believe we are better positioned to develop innovative medicines."