Persica Pharmaceuticals secures £2m at £107.2m valuation for back pain treatment

Persica Pharmaceuticals, a clinical-stage biotechnology company, has secured an estimated £2m in new funding at a post-money valuation of £107.2m. The Canterbury-based firm is developing PP353, a patented intradiscal antibiotic injection for the treatment of chronic Low Back Pain (cLBP) with Modic changes. This treatment addresses underlying bacterial infections in vertebral discs for patients identifiable by MRI who experience moderate to severe persistent pain.

Incorporated in 2013, the business provides a non-opioid, one-off treatment that targets the cause of pain rather than symptoms. A Phase 1b study, referred to as the Modic trial, showed statistically significant and clinically meaningful reductions in disability. The company is now in discussions with regulators to move toward registrational trials.

Latest accounts for the year ended 30 June 2025 show the company had four employees, while LinkedIn records indicate a current headcount of 11. This capital injection follows an allotment of shares in April (filing date June).

Recent leadership changes include the appointment of Dr Edward Littler and David John Watson to the board in March. LinkedIn profiles suggest that Watson may also hold the position of COO at Coller Capital.