Antibiotic technology developed by a tenant of the Innovation Stockyard in the Kit Bond Science and Technology Incubator at Missouri Western State University has been purchased by a newly formed pharmaceutical company.
Sopharmia, Inc., founded by Dr. Larry Sutton, MD, PhD, has announced the closing of a $3.3 million Series A venture capital financing round and the formation of Gladius Pharmaceuticals Inc. based in Montreal, Quebec, Canada. Sopharmia’s antibiotic technology is now wholly owned by Gladius Pharmaceuticals. The funding round was led by Lumira Capital Investment Management via its Merck Lumira Biosciences Funds, with participation from SR One through funds from the GlaxoSmithKline (GSK) Canada Life Sciences Innovation Fund. Québec’s Fonds de solidarité FTQ was also a financial contributor.
Sopharmia’s team pioneered dual mechanism small molecule antibiotics that combine antibiotic functionality with activity against one of the main causes of antibiotic resistance, beta-lactamase inhibition. Dr. Sutton and his team did a large portion of their work at the Innovation Stockyard, a business and life sciences incubator.
“We are so excited to see technology that was developed in the Innovation Stockyard coming to fruition,” said Ronan Molloy, president of Innovation Stockyard. “Antibiotic resistance is a serious issue that globally affects both human and animal medicine and it is encouraging to see progress being made on this front.”
While Sopharmia, LLC will graduate from the Innovation Stockyard, Dr. Sutton and his team will not be leaving St. Joseph. They will orchestrate Gladius Pharmaceuticals’ North American research and development operations from their new company Sopharmbique LLC that will also be housed in the Innovation Stockyard.
“This financing enables us to accelerate the advancement of our lead compound,” said Dr. Sutton, “Innovation Stockyard has helped us through good times and bad. We’re pleased to continue this relationship with them.”
“We are very fortunate that Dr. Sutton and his team will remain at Innovation Stockyard,” said Dr. Tammy Platt, Innovation Stockyard’s science officer. “Their expertise is a great asset to our current and future tenants. We are working to create an environment where entrepreneurs can not only have space to work on their ideas, but have access to expertise in a variety of fields in an interactive atmosphere that encourages communication and collaboration with fellow entrepreneurs.”
The funding transaction was final on June 22, 2015 and Sopharmbique plans to be moved into its space and starting work shortly after the first of July, 2015.
Source: Innovation Stockyard
Contact information for reporters:
Gladius Pharmaceuticals/Sopharmbique
Larry D Sutton, Scientific Founder/President
641-919-2036
Larry@gladiuspharma.com
Innovation Stockyard
Ronan Molloy, President
816-749-4011
ronan.molloy@innovationstockyard.com
Tammy Platt, PhD, Science Officer
816-749-4013
tammy.platt@innovationstockyard.com
About Innovation Stockyard
Innovation Stockyard specializes in animal health innovation and entrepreneurship, but can provide support services for any idea. With a team who’s comprehensive experience ranges from commercialization and start-up exits to companion animal, production animal and equine sciences coupled with 25,000 square feet of space, the Innovation Stockyard and its team can successfully provide any valid animal health idea with the tools necessary to enter the market.
Innovation Stockyard (A Missouri Innovation Center) is housed in the Kit Bond Science and Technology Incubator and is a partnership between Missouri Western State University, Buchanan County, the City of St. Joseph, the St. Joseph Chamber of Commerce and multiple private partners, including AG Processing, AgriLabs, Bayer HealthCare Animal Health, Boehringer Ingelheim Vetmedica Inc., Clipper Distributing, Mosaic Life Care, Nestlé Purina PetCare Company and the St. Joseph News-Press.
Current tenants include the United States Animal Health Association, New Functional Polymers and Sopharmbique. For more information about the Innovation Stockyard, call 816-749-4012 or visit www.innovationstockyard.com.