Deinove, a France-based bacteria company, will establish a new subsidiary Deinobiotics to speed up research and development of new antibiotics as part of its antibiotics program.
The Holding Incubator Green Chemistry, which has invested € 0.5m, will hold 51% of Deinobiotics while Deinove 49%.
Deinove CEO Emmanuel Petiot said, "Our priority at DEINOVE is to focus our energy and resources on the DEINOL project and increasingly also on DEINOCHEM."
Until the first drug candidate has been identified and value created for Deinove, the capital injection along with the state aid already allocated will fund Deinobiotics.
Deinobiotics CEO Dominique Le Beller said the priority is now to find antimicrobial agents active against antibiotic-resistant bacteria.DEINOVE's research selected 12 strains of bacteria with antibiotic activity, including 9 strains active on Gram-negative bacteria and 2 broad spectrum strains.
"These first results are extremely promising for the future of DEINOBIOTICS,"Le Beller added.
At a preset price, Deinove has the option to buy back, all the shares of Deinobiotics, which were sold to the Holding Incubator Green Chemistry, according to Deinove.