F2G Limited, the UK-Based Antifungal Drug Discovery and Development Company, Announces a Major Funding Award from the Technology Strategy Board’s Biomedical Catalyst

Manchester, United Kingdom, September 11, 2014 --(PR.com)-- The prestigious £1.4 million award will expedite the development of F2G’s novel IV/oral systemic antifungal F901318. The Biomedical Catalyst project will focus on the oral Phase I clinical development of F901318 and supporting studies, and will allow the company to accelerate its clinical development activities.

F901318 is being developed by F2G as an IV and oral therapy to treat invasive aspergillosis and other life-threatening fungal infections and is a new class of antifungal acting against a new cellular target. The discovery and development of F901318 represents a major advance in the treatment of serious fungal disease as currently there are very limited treatment options and resistance is becoming a serious problem. F901318 is highly active against all known azole-resistant aspergilli.

Dr Mike Birch, F2G’s Chief Operating Officer said: “We are delighted to have been chosen to receive funding from Biomedical Catalyst as this is a highly competitive programme. The award represents significant validation of the project and project team and follows on from our successful Framework 7 award last year.”

Ian Nicholson, F2G’s CEO commented: “The Technology Strategy Board plays a major role in developing and promoting world class UK science. F901318 is a significant addition to the antifungal armoury and the Biomedical Catalyst award will accelerate its development and entry into Phase II trials.”

About F2G Ltd: Based in Manchester, UK, F2G Ltd is dedicated to the discovery and development of new and clinically superior drug classes to treat life-threatening systemic fungal infections in at-risk patient populations. The antifungal market is currently estimated at over 6 billion dollars annually and is growing steadily year on year. Market growth is expected to increase with the emergence of new clinical indications in allergies and asthma. The company has impressive internal capabilities, employing a core team of scientists with a unique understanding of the antifungal arena, supported by an experienced management team. For more information visit www.f2g.com

The Technology Strategy Board is the UK’s innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit www.innovateuk.org

Catalysts are run jointly by the Technology Strategy Board and the Research Councils. A Catalyst is a form of research and development funding which focuses on a specific priority area and aims to help take projects from research to as close to commercial viability as possible. The Catalyst model supports projects in priority areas where the UK research base has a leading position and where there is clear commercial potential. Current Catalysts include: Biomedical Catalyst, Agri-tech Catalyst and the Industrial Biotechnology Catalyst. For more details please visit: https://www.innovateuk.org/-/catalysts