Bactolife receives $5M in new funding to address gut infections worldwide
Bactolife has received an investment of $5 million from The Bill & Melinda Gates Foundation to accelerate the use of its technology platform that develops binding proteins for gut infections.
The news was announced today (August 30) that in line with the foundation’s charitable mission, the investment would help develop the binding proteins which the company says are a new biologic solution reducing the risk of gut infections in both humans and animals.
Mads Laustsen, CEO at Bactolife, said: “With this investment, Bactolife is able to boost our efforts in our technology platform, allowing us to reach our end customers faster and with affordable products that can benefit the many – thereby potentially impacting millions of peoples’ lives worldwide.”
Globally, there are more than 1.6 billion cases of diarrheal diseases annually, which at best means stomach upsets. At worst, they can lead to life-threatening illnesses. Annual healthcare costs are increasing, and there are limited options to avoid disease manifestation in the first place.
Sebastian Søderberg, deputy CEO at Bactolife, added: “We are pleased to have funding from both Novo Holdings and the Gates Foundation, and regard this as a strong validation of Bactolife’s potential to improve human and animal health worldwide and make these products accessible in developed and developing countries.”
An estimated 760,000 children die annually from gut infections, and of those who survive, both infections later in life and growth stunting are observed. Especially in developing countries with poor access to clean water and sanitation, among immunocompromised children and older people, travelers and deployed people, gut infections are a major risk.
Today, most infections are treated with antibiotics that are either very expensive or contribute to the spread of antibiotic-resistant bacteria.