Precisio Biotix Therapeutics Acquires London-Headquartered CC Bio, Adding World-Class Antibacterial Platform and Top Scientists
2024-03-01 07:00:00

The announcement by Mark Engel, Precisio Biotix's Chairman and CEO, signifies a greater commitment to globalizing the Company's antibacterial science.

DOVER, Del.March 1, 2024. Precisio Biotix Therapeutics ("Precisio") today announced the acquisition of CC Bio, creator of the ZEUS anti-bacterial lysin platform. This bio-informatics platform is highly complementary to Precisio's LysiThru™ high-throughput lysin screening system. CC Bio is led by UK-trained PhD scientists Dr. Matthew Cummings and Dr. David Corcoran. This announcement comes on the heels of global leading lysin scientist Dr. Raymond (Ray) Schuch joining Precisio as Vice President, Director of US Operations.

Precisio creates lower cost novel precision biological antibacterials with a focus on lung and skin infections. The Company's key assets include: (1) LysiThru™, the Company's industry-leading high throughput screening, engineering, and AI system for creating best- or first-in-class novel lysins (engineered precision enzymes that rapidly break targeted bacterial cell walls without causing resistance); (2) a strong pipeline of lysin and phage products that will be able to address multiple problematic bacterial diseases, including antimicrobial-resistant (AMR) infections; and (3) one of the strongest scientific teams to address the global need for novel medicines to fight AMR infections.  

Dr. Assaf Raz, VP of R&D, stated: "We are delighted to add Matt and David to our team.  Not only are they two of the top scientists in the lysin field but they also share our common goal of using advanced technologies to efficiently create low-cost precision antibacterials to address some of the world's largest unmet medical needs."

Precisio's Chairman Mark Engel added "Developing novel antibacterials is a very difficult business – the field is littered with failed companies. We are working with lysins, since they attack pathogen cell walls, a mode of action that does not lead to antibiotic resistance. Lysins are one of the most powerful potential new modalities for treating AMR infections. Lysins are enzymes that specifically target and rapidly break down the cell walls of bacteria without creating new resistance and therefore can be used as alternatives to traditional antibiotics, particularly where these no longer work well against specific antibiotic-resistant infections."

Dr. Raymond Schuch, VP, Director of US Operations further added "I am thrilled to have Matthew and David join such an experienced and effective team to further our goal of bringing a new and cutting-edge antimicrobial modality into human therapeutic use for the treatment of severe and life-threatening infections with antibiotic-resistant microorganisms. The threat from AMR and its impact on human health becomes more significant every day. It must be met with a pipeline of new effective agents, such as lysins and phages, with novel mechanisms of action distinct from antibiotics. Matthew and David's notable commitment to bringing such precision antimicrobials into clinical use was the driving force for adding them to an already dynamic and successful team."

Precisio was represented in this transaction by Corporate Partners, a New York-based merchant bank.  Partner Mario Gobbo said, "Precisio is a unique organization, and we are pleased to be working with management, who have built several successful life science companies.  Precisio thus far has been funded by family capital:  they are highly capital efficient and derisk their R&D whenever possible.  With the addition of CC Bio, Precisio has now brought together many of the top scientists in the field."

Precisio is a clinical-stage biotech company creating lower-cost novel precision engineered biological antibacterials, with an initial focus on skin and lung infections. Precisio is a platform-plus-product company (Rx, consumer). Management has had multiple previous successful exits. 

CC Bio is an early stage bioinformatics company based in London, United Kingdom. Utilizing deep expertise in synthetic biology and microbiology, CC Bio has developed Zeus™, a pioneering endolysin design platform which complements Precisio Biotix's existing LysiThru™ endolysin discovery platform. CC Bio's goal is to eliminate bacteria-based disease in a potent, specific and prophylactic fashion, harmonizing the relationship between eukaryotic and microbial cells.