PLANS SECOND ROUND FUNDING OF $5 MILLION

GangaGen gets US patents

GangaGen Inc, a biotechnology company focused on development of proprietary, bacteriophage-based products for prevention and treatment of bacterial infections, particularly infections resistant to antibiotics, on Tuesday, announced that it had received two US patents.

The first is a broad US patent covering its proprietary technology — Lysin-Deficient Bacteriophases with Reduced Immunogenicity and the second for Incapacitated Whole-Cell Immunogenic Compositions. GangaGen’s bacteriophages, both natural and engineered, can be applied to kill bacteria pathogenic to humans. They help in control of bacteria that pose a food safety risk to humans as well as bacterial diseases in production and companion animals. The second patent also enables the development of highly effective vaccine to protect against any bacterial infection in man or animals.

The animal and environmental products are being developed by the company’s subsidiary GangaGen Life Sciences Inc based out of Ottawa, Canada. GLSI has entered into collaboration with Lallem and, a major animal feed distributor in Europe and South American for developing phage products for control of salmonella infection of poultry and swine.

Briefing reporters, Founder, CEO & President Janakiraman Ramachandran, said these two patents grew out of the work carried out by GangaGen scientists at its R&D facility in Bangalore — GangaGen Biotechnologies Pvt Ltd which boasts of 25 scientists at the facility. Founded in 2000 through venture capital funding to the tune of US$5 million led by ICF Ventures, a US-based venture capital firm, which invests in early stage investments in companies offering highly differentiated products, technologies and services, GangaGen is planning to raise another US$5 million in the second round of funding soon.

ICF Ventures Pvt Ltd Managing Director Vijay Angadi said they would be investing to the tune of US$2 million. According to Mr Ramachandran they are in talks with other prospective investors to cover the rest of the amount.

Stating that GangaGen is using its proprietary technology the human therapeutics and is looking for partners to utilise its novel technology to develop proprietary vaccines, Mr Ramachandran said, the company is in talks with a North American firm for possible technology and milestone funding and collaboration or on a revenue sharing basis.

News Index