MycoTeq Raises Money for Development of New Antibiotics

Danish biotech company MycoTeq A/S has raised an undisclosed investment from Novo Seeds, DTU Innovation and Symbion. The money will be spent to continue and expand the search for new antibiotics, which can be used for treating patients who suffer from antibiotic-resistant infections.

Henrik Blou, one of the founders of MycoTeq commented: "We are pleased our efforts have now come to fruition so we can progress searching for and developing new antibiotics. We look forward to being supported by such a strong player such as Novo Seeds that knows the biotech industry from the inside."

Søren Carlsen, managing partner of Novo Ventures and Novo Seeds said in a press release: "After some years when the pharmaceutical industry turned its back on the antibiotics business for financial reasons, we see a strongly increasing interest today for new antibiotics because of the increasing spread of resistant bacteria. MycoTeq is an interesting company with a great potential for finding new compounds that work against resistant bacteria. In addition, it is a young biotech company which fits perfectly into Novo Seeds' investment strategy."

For further information please contact:

Henrik Blou,

CEO

Tel: +45 28 61 68 45

Email: info@mycoteq.com