EMV Capital (LSE:EMVC) said its portfolio company AMR Bio is advancing XF-73, a first-in-class topical antimicrobial, towards Phase 3 following an asset transfer and a funding round that created the company.
In September 2025 EMV's Moirai Acquisitions (renamed AMR Bio) acquired certain XF-73 assets from Destiny Pharma and EMV led a c.£1.3m funding round to establish the management team and support commercialisation.
The transferred package includes an IND for XF-73 Nasal, a pIND for XF-73 Dermal, Qualified Infectious Disease Product designation and FDA Fast Track status, Cardinal Health will act as US regulatory agent and the MHRA has granted Accelerated Access under ILAP.
The core team, led by Executive Chair Nigel Brooksby and VP Research Operations Dr William Rhys-Williams, brings over 50 years' combined antimicrobial and pharmaceutical development experience and includes personnel from the original Phase 2 trials.
A prior 124-patient Phase 2b study in open-heart surgery patients reported a 99.5% reduction in nasal bacterial carriage and AMR Bio's immediate priorities are securing FDA Phase 3 guidance, building a GMP roadmap and budget, progressing regulatory and commercial planning, and finding development partners.
EMV cites a $8.37bn surgical site infections market in 2025 rising to $17.95bn by 2034, estimates potential peak US sales of up to $1bn per annum for XF-73 Nasal, and highlights adjacent dermal and wound-care markets of c.$9bn and over $20bn respectively.
"The experienced leadership is executing across regulatory strategy, manufacturing, commercial planning and stakeholder engagement, with the goal of delivering for patients and shareholders alike," Dr Ilian Iliev, CEO of EMV Capital and Investment Director of AMR Bio, said.
Next milestone is obtaining FDA guidance on the Phase 3 pathway.
