Achaogen, a South San Francisco, CA-based biopharmaceutical company focused on the discovery and development of innovative broad-spectrum antibiotics to treat life-threatening, multi-drug resistant (MDR) bacterial infections, completed a $56m Series C round of financing.
The round was led by new investor Frazier Healthcare Ventures, and also included new investor Alta Partners. Existing investors 5 AM Ventures, ARCH Venture Partners, Domain Associates, Venrock Associates, Versant Ventures and the Wellcome Trust also participated in the round.
In conjunction with this financing, Robert More, general partner, Frazier Healthcare Ventures, will join the company’s board of directors.
Commenting on the round, Kevin Judice, Ph.D., chief executive officer and chief scientific officer of Achaogen, was quoted as saying: “Our mission is to discover and develop life-saving antibiotics.
“This financing together with non-dilutive capital that we have secured through partnerships with various government agencies will enable us to advance multiple clinical programs, including conducting a Phase 2 study in complicated urinary tract infections of ACHN-490, our lead candidate for multi-drug resistant bacterial infections”.