Pherecydes Pharma

About Pherecydes Pharma

Pherecydes Pharma, founded in 2006, is a biotechnology company focused on developing treatments for resistant bacterial infections. In June 2023, the company merged with Erytech Pharma to form Phaxiam Therapeutics, a move intended to create a global leader in phage therapy. The merger combined Pherecydes' expertise in bacteriophage therapies with Erytech's financial resources and US presence, creating a cash runway projected to last into the third quarter of 2024. The merged entity, Phaxiam Therapeutics, is listed on both the Nasdaq and Euronext Paris.

The company's core technology revolves around precision phage therapy, which utilizes bacteriophages—natural viruses that specifically target and destroy bacteria—to combat infections. This approach is particularly aimed at multidrug-resistant bacteria, a growing global health threat. Pherecydes pioneered the concept of "precision phagotherapy," where treatments are tailored to each patient by matching specific phages to the bacterial strain causing the infection. The primary targets are three bacteria identified by the WHO as among the most dangerous: Staphylococcus aureus, Pseudomonas aeruginosa, and Escherichia coli. These pathogens are responsible for a majority of hospital-acquired resistant infections.

Pherecydes' business model involves the research, development, and eventual commercialization of its phage-based treatments. Revenue is anticipated from the sale of its bacteriophages, with some treatments already available for compassionate use in France under the supervision of the French National Agency for the Safety of Medicines (ANSM). The company has secured early access program (AAC) approval for its anti-S. aureus phages, allowing for broader patient access and reimbursement from the health system. The business strategy includes advancing its clinical pipeline, with the PhagoDAIR Phase II study for prosthetic joint infections expected to yield results in 2024, and launching new Phase I/II trials for endocarditis and complex urinary tract infections.

Since 2016, the company was led by CEO Guy-Charles Fanneau de La Horie, who has extensive experience in the biotech industry, including leading the IPO of Neovacs in 2010. He spearheaded Pherecydes' own IPO on the Euronext Growth market in February 2021. Following the merger, Thibaut du Fayet, formerly CEO of Pherecydes, became the CEO of the new entity, Phaxiam Therapeutics. The company has a portfolio of 87 patents covering its phages and their applications, with patents granted in major jurisdictions including the US, Europe, Japan, and China.