Hypha Discovery™ Ltd secures first round investment to continue the discovery of anti-infective compounds

London, 6th June 2007

Hypha Discovery Ltd, the drug lead discovery company which exploits mushroom fungi to discover novel biologically active compounds for pharmaceutical development, announced today that it has secured £150,000 of investment capital. The investment was made jointly by Prof Henry Beker and the University of Westminster, London.

The funding will be used to continue the discovery of novel anti-infective compounds while building its chemical library of fermentation products, the MycoDiverse™ library.

Dr Liam Evans, Hypha’s CEO, commented: “Hypha is pleased to secure this first round of investment from Prof Beker and the University of Westminster. It comes at an exciting time, when we are beginning to see the high rates of novel antibiotic discovery, made possible by our approach of focussing on this underexploited group of micro-organisms. This investment is an endorsement of the advances we have made in less than one year since our antibiotic discovery programme began, partly funded by the DTI Research Award.”