Destiny Pharma is an innovative biotech company developing treatments for antibiotic-resistant bacteria (also known as superbugs).
In September 2017, Downing-managed VCTs invested £1.75 million in Destiny Pharma as part of a £15.3 million funding round. The capital will primarily be used to progress the development of Destiny Pharma's 'XF-73' drug, which has shown a capability of killing bacteria rapidly and before it can develop any resistance.
On 4 September 2017, Destiny Pharma floated on the Alternative Investment Market, where it raised more than £10 million.
Our investment was made in collaboration with BioScience Managers, a global leader in healthcare and life sciences and investment partner to the Downing FOUR VCT - Healthcare Share Class.