UPDATE - F2G Wins Investment Deal of the Year Bionow 2022 Award
MANCHESTER, United Kingdom, March 17, 2023 (GLOBE NEWSWIRE) -- F2G Ltd. today announced the company has been awarded a prestigious Bionow award in recognition of its contributions to the North England biotech industry and progress towards developing a new class of antifungals for treatment of rare fungal infections. F2G was awarded Investment Deal of the Year at the Bionow awards ceremony which was held at the iconic Concorde Conference Centre in Manchester, United Kingdom, on March 16, 2023.
The Investment Deal of the Year award, sponsored by QIAGEN, is in recognition of F2G's strategic collaboration with Shionogi Co., Ltd. to develop and commercialize a new class of antifungal drugs for invasive fungal infections in Europe and Asia, bringing the drug to patients F2G alone would not have reached. The deal terms between F2G Ltd., and Shionogi & Co. Ltd were notably above benchmarks for the antifungal space.
"We are honored to be recognized and celebrated by our peers with the prestigious award from Bionow. It is a testament to the hard work and commitment of our team to advance a novel antifungal therapy for patients with invasive fungal infections who have exhausted their treatment options," said Francesco Maria Lavino, Chief Executive Officer of F2G. "We are grateful for the support of our investors, partners, and collaborators, particularly our colleagues at Shionogi who continue to believe in the potential of our transformational science and look forward to bringing a new antifungal to global markets."
The prestigious Bionow Awards is a highlight of the life sciences calendar and celebrates the achievements of the sector, showcasing the very best in the industry.
F2G is a biotech company with operations in the UK, US, and Austria focused on the discovery and development of novel therapies to treat potentially life-threatening invasive fungal infections. F2G has discovered and developed a completely new class of antifungal agents called the orotomides which selectively target a key enzyme in the de novo pyrimidine biosynthesis pathway. This is a completely different mechanism from that of the currently marketed antifungal agents and gives the orotomides fungicidal activity against a broad range of rare and resistant fungal mold infections. For more information, please visit: www.f2g.com
This announcement contains forward-looking statements. These statements are based on expectations in light of the information currently available, assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from these statements. Risks and uncertainties include general domestic and international economic conditions such as general industry and market conditions, and changes of interest rate and currency exchange rate. These risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited to, completion and discontinuation of clinical trials; obtaining regulatory approvals; claims and concerns about product safety and efficacy; technological advances; adverse outcome of important litigation; domestic and foreign healthcare reforms and changes of laws and regulations. Also, for existing products, there are manufacturing and marketing risks, which include, but are not limited to, inability to build production capacity to meet demand, lack of availability of raw materials and entry of competitive products. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.