New Phico Therapeutics chair pledges global surge
Cambridge biotech company Phico Therapeutics has appointed Richard Nagle as board chair; Nagle has built and developed business solutions across the international biopharma sector.
Phico is developing engineered phage technology as the basis of a new generation of antibiotics to overcome antibacterial resistance.
The new hire follows the company’s recent funding from Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) to advance its SASPject antibacterial therapy of up to $5.3 million to support preclinical development, plus up to $12.86m if the project progresses successfully to Phase 1 clinical trials.
This is all subject to available funding (circa. £13.2m) and is in addition to the £7m of funding led by British Growth Fund.
Nagle’s noted focus on accelerating product development has led to successful company exits or IPO, including his recent CEO and board director role at Immune Regulation which raised $50m in 2020 from Morningside Ventures and others.
Previously, Nagle served as non-executive director of Peptinnovate and as CEO of a number of successful drug delivery, biotechnology and medical device businesses. He was also a director of IMS Health and Quintiles (now IQVIA).
At Phico, Nagle succeeds Dr Anthony Martin who has been chair since 2010.
Dr Heather Fairhead, Phico founder and CEO said: “We are delighted to welcome Richard as chair of our board with his wealth of executive and commercial experience.
“This will be invaluable in our next exciting phase as we exemplify SASPject technology in first-in-human intravenous studies and advance the science of antibacterial therapy.”
Nagle added: “This is an extremely exciting time for Phico Therapeutics and I am delighted to be joining this dynamic business, which has been at the forefront of building technological solutions to antibacterial resistance.
“I intend to expand our presence both in the UK and internationally. It is clear that Phico has built a world-class team to execute on its clinical development goals.”