Precisio Biotix Therapeutics Completes Acquisition of London-Based CC Bio, Strengthening Antibacterial Platform and Talent Roster
Saturday, March 02, 2024
Precisio Biotix Therapeutics ("Precisio") has recently announced the acquisition of CC Bio, the creator of the ZEUS anti-bacterial lysin platform. This acquisition is seen as a strategic move, complementing Precisio's LysiThru™ high-throughput lysin screening system. CC Bio is led by Dr. Matthew Cummings and Dr. David Corcoran, both highly skilled UK-trained PhD scientists.
This announcement coincides with the appointment of Dr. Raymond (Ray) Schuch as Vice President and Director of US Operations at Precisio. Dr. Schuch is a renowned lysin scientist, adding significant expertise to Precisio's team.
Precisio focuses on developing cost-effective precision antibacterials targeting lung and skin infections. Key assets include the LysiThru™ system for rapid lysin screening, a robust pipeline of lysin and phage products, and a skilled scientific team dedicated to combating antimicrobial resistance (AMR).
Dr. Assaf Raz, VP of R&D at Precisio, expressed enthusiasm about the addition of Drs. Cummings and Corcoran to the team, highlighting their shared vision of leveraging advanced technologies to address critical medical needs.
Mark Engel, Chairman of Precisio, emphasized the importance of lysins as an alternative to traditional antibiotics due to their mode of action that doesn't lead to antibiotic resistance. He stressed the significance of novel modalities like lysins in combating the growing threat of AMR infections.
Dr. Schuch echoed these sentiments, emphasizing the urgency of developing new antimicrobial agents to tackle AMR. He praised the commitment of Drs. Cummings and Corcoran to advancing precision antimicrobials and expressed confidence in their contributions to Precisio's mission.
The transaction was facilitated by Corporate Partners, a New York-based merchant bank, whose partner Mario Gobbo commended Precisio's unique approach and efficient use of capital. He noted that with the addition of CC Bio, Precisio has assembled a formidable team of top scientists in the field.
Source: prnewswire.com
