EMV Capital and advances with AMR Bio’s XF-73 drug - ICYMI

EMV Capital CEO, Dr Ilian Iliev, talked with Proactive about AMR Bio and the progress being made with XF-73, a late-stage antimicrobial drug candidate targeting drug-resistant bacteria and surgical site infections.

Joining the discussion was AMR Bio executive chairman Nigel Brooksby, who explained how XF-73 has demonstrated strong clinical and laboratory results and is now preparing for Phase 3 development discussions with the FDA. Brooksby said the treatment works differently from traditional antibiotics because it attacks bacterial membranes and acts extremely quickly against resistant bacteria.

Brooksby stated: “XF-73 kills bacteria in seconds. Absolutely seconds rather than hours.” He added that the company has generated “rich evidence” from laboratory and clinical studies showing the drug works effectively against drug-resistant bacteria.

Dr. Iliev discussed how AMR Bio fits within EMV Capital’s venture build strategy, where the company identifies strong scientific assets with commercial potential and helps reposition or restart them in a capital-efficient way.

He noted that AMR Bio was added to the EMV platform last year following encouraging Phase 2b results previously generated by Destiny Pharma.

The interview also covered the growing global threat of antimicrobial resistance, with Brooksby highlighting projections that drug-resistant bacteria could become a leading cause of death globally by 2050. AMR Bio’s initial commercial focus will be on preventing surgical site infections, particularly in high-risk procedures such as heart surgery.

EMV Capital currently holds a significant stake in AMR Bio and sees several potential future pathways for value creation, including partnerships, acquisitions, or a future IPO.

Proactive: You’ve described AMR Bio as a great example of EMV Capital’s venture build model. Can you talk us through what has gone into getting the business to this stage?

Dr Ilian Iliev: EMV Capital has a differentiated capability around the venture build platform, where the company works with businesses that have excellent IP, strong science and significant potential, but require help with a restart or redirection. AMR Bio joined the platform last year because of the opportunity in antimicrobial resistance and the previous strong Phase 2 trial data generated by Destiny Pharma. Nigel Brooksby helped the company assess the opportunity, and EMV Capital built a lean and capital-efficient structure around the asset.

Proactive: What gave you confidence in XF-73 specifically?

Dr Ilian Iliev: The company focuses on strong science, strong IP and attractive markets. XF-73 had already completed a successful Phase 2b clinical trial with very positive data. EMV Capital also believed there was a clear commercial opportunity around surgical site infections and wound care, combined with having the right management team to move the programme forward.

Proactive: Nigel, antimicrobial resistance has been discussed for years. What makes XF-73 different?

Nigel Brooksby: XF-73 kills bacteria in seconds and targets the bacterial membrane, which reduces the risk of resistance developing. The combination of speed and membrane targeting makes it highly effective against superbugs. Brooksby also discussed the history of antibiotics and the growing resistance crisis, noting projections that drug-resistant bacteria could kill more people than cancer by 2050.

Proactive: You’ve described XF-73 as Phase 3 ready. What does that mean?

Nigel Brooksby: XF-73 has successfully completed all earlier stages of clinical development with strong results. The company is now discussing the final Phase 3 clinical trial design with the FDA. Existing laboratory and clinical data show the drug works quickly and effectively while also demonstrating safety.

Proactive: What does the route to market look like?

Nigel Brooksby: The initial focus will be surgical site infections, particularly preventing infections after surgery. The Phase 2b study in heart surgery patients showed almost complete elimination of infection risk in treated patients. Brooksby said the current standard of care relies on older drugs that already face resistance issues, creating a strong opportunity for XF-73.

Proactive: Ilian, where do you see future value creation coming from?

Dr Ilian Iliev: There are several potential routes to creating shareholder value, including partnerships with larger pharmaceutical companies, a future acquisition, or a potential IPO. EMV Capital currently owns around 30% of the business on a fully diluted basis, giving it meaningful exposure to future upside.