QureTech Bio has received a SEK 3 million grant from the Swelife innovation programme, funded by the Swedish Government via Vinnova.
“We are delighted to receive this grant, as it will enable us to create a product that can help patients and save lives,” says Fredrik Almqvist, CEO of QureTech Bio.
QureTech Bio, which is located at the Umeå Biotech Incubator (UBI), wants to combat the problem of antibiotic-resistant bacteria by developing new drugs that either enhance the effect of existing antibiotics or that disarm bacteria instead of killing them, thus reducing resistance development.
Collaboration with Umeå University and Malmö-based Magle Chemoswed
Now the company, in collaboration with Umeå University and Malmö-based Magle Chemoswed, has been awarded SEK 3 million by Swelife via the Samverkansprojekt för bättre hälsa (Collaboration Project for better health ).
The money will be used to take the project to the next phase of development.
“We have discovered new opportunities to treat severe infections by making antibiotic-resistant bacteria susceptible to various antibiotics again. We have already demonstrated that our substances have an effect in a very difficult-to-treat disease model and this money from Swelife makes it possible for us to focus on studies that will help develop a commercial product,” says Almqvist. “Thanks to this grant we have the opportunity to deepen our collaboration with Magle Chemoswed, which has created exciting technology for administering the substances that can make the final product more effective.”
More attractive to larger investors
Almqvist believes the grant will help move the project to a stage where it becomes more attractive to larger investors.
“It is crucial for us to be able to develop a product that can help patients, and illnesses acquired in healthcare settings are a major problem right now. QureTech Bio offers a new way of treating these diseases – and the potential is enormous. In the United States alone someone dies every fifteen minutes from an antibiotic-resistant bacteria, and the situation is similar in Europe, so solving this problem is extremely important.”
Photo of Fredrik Almqvist, CEO Quretech Bio