Prolysis Raises $9.9 Million To Fund Preclinical Development

Oxford, UK May 24 2005 – Prolysis Ltd, a private company focused on the discovery and development of novel antibiotic therapies, today announced that it has raised $9.9 US million in a series B private equity financing. The fundraising was led by existing institutional investors and was joined by Fujisawa Investments for Entrepreneurs, L.P. (“FITE”) and Fujisawa Investments for Entrepreneurs II, L.P. (“FITE II”) investment arms of the Japanese pharmaceutical company Astellas Pharma Inc. for start-up bioventures.  

Dr Steve Ruston, CEO of Prolysis, commented: 

“This financing puts us in a strong position to progress our portfolio of novel antibiotic projects through preclinical development. We are very pleased with the continued commitment from our shareholders and the endorsement of our technology and lead programmes from the international pharmaceutical sector.” 

Dr Masakazu Kobayashi, Senior Vice President of Astellas Research Institute of America, a general partner of FITE & FITE II, commented: 

“We are delighted with the quality of Prolysis’ science and technology and see this as an important investment in line with our own aims to pursue excellence in pharmaceutical research in Europe.” 

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Prolysis, based in Oxfordshire, UK, is a research and development company focused on the creation of medicines to address the growing crisis of antibiotic resistance. The Company is exploiting unique insights into bacterial cell biology to create the new antibiotics that are urgently needed to treat resistant hospital and community-acquired infections. Prolysis’ expertise in bacterial cell biology combined with structural biology and medicinal chemistry from technology partners has created a multi-project preclinical portfolio. Prolysis will commercialise its new antibiotics by out-licensing after demonstrating proof-of-concept in human Phase IIa studies.  For further information visit the Prolysis website at www.prolysis.co.uk

About FITE and FITE II
FITE and FITE II are funds for equity investments into start-up pharmaceutical research ventures in drug discovery. Astellas Research Institute of America, Inc (“ARIA”) is a US research arm of Astellas Pharma Inc. and is responsible for the daily operations of FITE and FITE II. ARIA is actively enhancing its information network with research ventures through equity investments from FITE and FITE II  

Further enquiries:

Prolysis Ltd
Dr Steven Ruston, CEO
Tel: +44 (0)1865 854 700
steve.ruston@prolysis.com 

Northbank Communications Ltd
Dr Douglas Pretsell
Tel: +44 (0)20 7886 8150
d.pretsell@northbankcommunications.com