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Destiny Pharmaceuticals Funds raised:£850,000

Destiny Pharma are exploiting a drug which works against bacteria without inducing resistance. Funding was required to complete Phase II clinical trials, which has attracted support from the US Government.

There is growing medical concern that superbugs are becoming resistant to existing anti-bacterial treatments. Our client, Destiny Pharma has developed compounds that kill bacteria like MRSA so rapidly that they are unable to become resistant.

The Company is focussed on the preventive treatment of Staphylococcus aureus (SA), the World’s No.1 cause of post-surgical hospital bacterial infection, which costs the US healthcare system $12 billion pa.

With its lead drug currently supported and funded for clinical development by the US government, we’ve successfully introduced over £350,000 of investment. We are also delighted to confirm that a further £500,000 has been committed by the Angel Co Fund, spearheaded by a senior industry insider we also introduced.

Destiny Pharma has enjoyed over £5m of grants to date and £14m of equity funding mostly from private investors, making this one of the few pharmaceutical businesses to get so near to a trade sale exit on angel money.

Bill Love, CEO is pleased with the effort that Ruffena put in "I appreciate the skill and effort put in on our behalf by Simon Heywood and team. They used the Ruffena Pitch on the Park event and their Life Sciences industry connections to put us in front of authentic, informed and experienced investors who asked great questions which we enjoyed answering. In particular we now also enjoy the backing of a talented industry insider who helped us very much with our representation to the Angel Co Fund."

ABOUT RUFFENA CAPITAL

Established in 2013, Ruffena Capital has evolved to become a boutique private equity advisory business with its own investment platform - focused on raising true growth capital or alternative finance, typically in the £2-10m range for its clients. Ruffena’s investors are largely a private audience of experienced UK and international investors, funds, family offices and certain wealth managers, who prefer established, highly tangible opportunities that can demonstrate the ability to scale and generate returns. Ruffena secured or advised upon over £42m going into client projects over the 2016-17 financial year. In the current year this has risen significantly and Ruffena has also had two clients IPO and one full exit in 2017-18. Ruffena does take on some earlier stage projects, however they must emphatically demonstrate thorough planning; tangible commercial potential; and a workable investment proposition.

www.ruffena.com