Biotech fledgling raises money for developing new antibiotics  

Danish biotech fledgling MycoTeq has raised an undisclosed investment from Novo Seeds, DTU Innovation and Symbion
Danish biotech fledgling MycoTeq has raised an undisclosed investment from Novo Seeds, DTU Innovation and Symbion. The money will be spent to continue and expand the search for new antibiotics, which can be used for treating patients who suffer from antibiotic-resistant infections, writes daily business paper ErhvervsBladet.
Henrik Blou, one of the founders of MycoTeq commented to ErhvervsBladet: "We are pleased our efforts have now come to fruition so we can progress searching for and developing new antibiotics. We look forward to being supported by such a strong player like Novo Seeds that knows the biotech industry from the inside."
Søren Carlsen, managing partner of Novo Ventures and Novo Seeds said in a press release: "After some years when the pharmaceutical industry turned its back on the antibiotics business for financial reasons, we see a strongly increasing interest today for new antibiotics because of the increasing spread of resistant bacteria. MycoTeq is an interesting company with a great potential for finding new compounds that work against resistant bacteria. In addition, it is a young  biotech company which fits perfectly into Novo Seeds' investment strategy."
MycoTeq, which was founded in 2006 as a spin off from the Center for Microbial Biotechnology at the Technical University of Denmark (DTU), develops new antibiotics from microfungi. The biotech firm has access to what is thought to be the world's largest microfungal library at DTU containing more than 30,000 different strains, classified according to their secondary metabolites and their morphology. The collection is reckoned to be the best classified in the world, and the largest in certain genera (Aspergillus and Penicillium).
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