Adaptive Phage Therapeutics Announces Mayo Clinic as Lead Investor in Convertible Note Financing - BioHealth Capital Region

GAITHERSBURG, Md.–(BUSINESS WIRE)–Adaptive Phage Therapeutics (APT), a clinical-stage biotechnology company founded to provide an effective therapeutic response to the global rise of multi-drug resistant (MDR) pathogenic bacteria, today announced Mayo Clinic has committed $1.75M as a lead investor in a $7 million convertible note financing round.

Mayo Clinic is collaborating with APT to conduct a clinical trial using PhageBankTM investigational therapy to address the significant unmet need for alternative treatments for chronic infections following joint replacement (referred to as “periprosthetic joint infections,” or “PJIs”). Proceeds from the convertible note are designated to initiate the trial.