RCS - EMV Capital PLC - AMR Bio: Commercial Update

EMV CapitalAnnouncement

21/05/2026 07:00

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RNS Number : 1621F  EMV Capital PLC  21 May 2026

For release on Reach: 07:00, Thursday 21 May

 

EMV Capital plc

(EMVC, Group or the Company)

 

AMR Bio: Commercial Update

 

 XF-73 asset advancing towards Phase 3

 

EMV Capital plc (AIM: EMVC), the deep tech and life sciences VC investment
group, is pleased to provide a commercial update on the progress of its
portfolio company AMR Bio Limited (AMR Bio).

 

AMR Bio is a clinical phase biotechnology company dedicated to infection
prevention and antimicrobial resistance (AMR). Its XF-73 asset is a Phase 2b,
first-in-class topical antimicrobial designed to prevent post-surgical
infections by rapidly eliminating harmful bacteria before surgery that is now
preparing for a Phase 3 clinical trial.

 

AMR Bio's dedicated management team has been established, and operational,
regulatory and commercial activities are now progressing in preparation for
Phase 3 development.

 

Asset Transfer, Funding Round, and Regulatory Headway

 

As announced in September 2025, EMV Capital's Moirai Acquisitions Limited
(subsequently renamed AMR Bio) acquired certain assets from Destiny Pharma
Limited (Destiny Pharma), including the XF-73 antimicrobial and associated
intellectual property. EMV Capital also led a c.£1.3m funding round to
support the establishment of the team and strategy, and to commercialise the
company further.

 

The transferred XF platform assets include: the Investigational New Drug (IND)
application for XF-73 Nasal; the pre-IND (pIND) for XF-73 Dermal; an
associated Qualified Infectious Disease Product (QIDP) designation; and FDA
Fast Track status. Cardinal Health has also been appointed as AMR Bio's US
regulatory agent, to advance the FDA submission process.

 

In the UK, the Medicines and Healthcare Products Regulatory Agency (MHRA) has
granted AMR Bio Accelerated Access status for XF-73 under the Innovative
Licensing and Access Pathway (ILAP), supporting an accelerated UK route to
market.

 

Management Team

 

AMR Bio's core team has over 50 years of combined expertise in antimicrobial
development and pharmaceutical commercialisation, and includes key experts
involved in the original Phase 2 trials. The team is led by Nigel Brooksby,
Executive Chair, a globally experienced life sciences executive and
entrepreneur who has held senior leadership and advisory positions across
biotechnology and pharmaceutical companies, including at Pfizer and Sanofi.

 

Dr William Rhys-Williams, Vice President, Research Operations, has extensive
pharmaceutical development experience, that includes the advancement of
technologies from discovery through to Phase 3 clinical development.

 

Nasal Gel Phase 3 Pathway and other opportunities

 

Prior to AMR Bio's acquisition of XF73, the Phase 2b clinical trial of XF-73
Nasal demonstrated a 99.5% reduction in bacterial nasal carriage in a
124-patient study involving open heart surgery patients. AMR Bio is now
focused on the following near-term priorities:

 

·      Obtaining FDA guidance for the Phase 3 pathway for XF-73 Nasal.

·      Developing the Good Manufacturing Practice (GMP) roadmap and
budget in preparation for Phase 3.

·      Progressing regulatory and commercial planning for both the Nasal
and Dermal programmes.

·      Exploring partnerships for the Phase 3 clinical studies and
commercialisation, building on existing interest from development partners.

 

The team is also exploring the clinical and commercial potential for a dermal
gel application around severe wounds and skin infections, opening an
additional route for commercial returns.

 

Market Opportunity

 

The global surgical site infections market size was valued at $8.37 billion in
2025 and is projected to grow to $17.95 billion by 2034 1 . With XF-73's
ultra-rapid bactericidal action and no observed emergence of bacterial (MRSA)
resistance, the asset has the potential to become a market leader for
pre-surgical decolonisation. The company estimates potential peak sales of up
to $1bn p.a. across breast, cardiac and orthopaedic surgery patients in the
US.

 

XF-73 Dermal, targeting severe wound and skin infections including diabetic
ulcers and trauma-related wounds, sits within a global dermal market estimated
to grow to $9 billion annually. The broader wound care market is estimated to
exceed $20 billion globally 2 , driven by rising rates of surgical procedures,
chronic diseases, and antimicrobial resistance. The company is evaluating the
total addressable market in the context of this major opportunity and a go to
market strategy.

 

Dr Ilian Iliev, CEO of EMV Capital and Investment Director of AMR Bio,
commented:

 

"AMR Bio's mission is focused and urgent. Its XF-73 asset represents a highly
compelling investment opportunity with significant clinical and commercial
potential, addressing the silent pandemic affecting every country and region.

 

"The experienced leadership is executing across regulatory strategy,
manufacturing, commercial planning, and stakeholder engagement, with the goal
of delivering for patients and shareholders alike.

 

"Through EMV Capital's EIS investment practice and Venture Build model we are
providing hands-on support, while providing our investors with additional
exposure to this exciting and socially impactful project."

 

-Ends-

 For more information, please contact:

 EMV Capital plc                                                             via Rosewood
 Ilian Iliev, CEO

 Panmure Liberum (UK) Limited (NOMAD and Broker)                             +44 (0)20 7886 2500

 Emma Earl / Will Goode / Freddy Crossley / Mark Rogers (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 Rosewood (Financial PR)                                                     +44 (0)20 7653 8702

 John West / Llewellyn Angus / Lily Pearce

 

 

About EMV Capital plc (EMVC)

 

EMV Capital plc, is a deep tech and life sciences venture capital investment
group with an international portfolio of high-growth companies.

 

With a strategic focus on generating superior returns for investors from the
fast-growing sectors and technologies that will define our future; EMV Capital
invests in, manages and strengthens early-stage IP-rich companies.

 

EMV Capital holds both direct equity stakes and carried interest in its
portfolio companies, creating an evergreen structure that supports extensive
growth and value creation. EMV Capital's investment thesis is realised through
these capital sources:

 

·      capital-efficient investments through Group balance sheet;

·      fund management of the Evergreen EIS and Martlet Capital Funds;

·      syndicated investments leveraging its network of third-party
investors.

 

EMV Capital's approach is characterised by its proactive management style,
aiming to advance portfolio companies to critical value inflection points by
actively engaging with them. Companies are supported through Board
representation and the use of its Value Creation Services practice.

 

Headquartered in London, with a Cambridge presence and strong international
links, EMV Capital is quoted on the AIM market of the London Stock Exchange.

 

For more information, visit: https://emvcapital.com/ (https://emvcapital.com/)

 

About AMR Bio

 

AMR Bio is a clinical phase biotechnology company dedicated to infection
prevention, advancing XF-73, a Phase 2b first-in-class topical antimicrobial
designed to prevent post-surgical infections, that is now preparing for a
Phase 3 clinical trial.

 

The company's lead product, XF-73 Nasal, has demonstrated strong clinical
efficacy in a Phase 2b study and is advancing towards Phase 3 development for
the prevention of Staphylococcus aureus infections in surgical settings. The
unique attributes of this product mean it could become the market leader for
pre-surgery decolonisation.

 

AMR Bio's proprietary XF platform also supports dermal applications targeting
severe wound and skin infections, representing a significant adjacent market
opportunity exceeding $20 billion. XF-73 Dermal has been granted Qualified
Infectious Disease Product (QIDP) designation by the US FDA for burn wound
infections, supporting accelerated development and extended market
exclusivity.

 

AMR Bio is focused on progressing XF-73 through late-stage development,
building strong clinical data packages, and seeking partners for the final
clinical studies and commercialisation.

 

For more information, visit: https://amr-bio.com/ (https://amr-bio.com/)

 

 

 1  Fortune Business Insights (2026) Surgical Site Infections Market Size,
Share and Analysis, 2026-2034
(https://www.fortunebusinessinsights.com/industry-reports/surgical-site-infections-market-101019)

 2  Grand View Research (2024) Wound Dressing Market Size, Share & Trends
Report, 2024-2030
(https://www.grandviewresearch.com/industry-analysis/wound-dressing-market)

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