Zavante Therapeutics, a San Diego, CA-based clinical-stage biotechnology company, received a $10m credit facility.
Square 1 Bank, a division of Pacific Western Bank, provided the financing.
The company intends to use the funds to file a New Drug Application for ZTI-01 with the U.S. Food and Drug Administration in the second half of 2017 and preparing for commercialization.
Led by Ted Schroeder, founder, president and chief executive officer, Zavante develops and commercializes therapeutics for the medical needs of hospitalized patients. The company’s lead product candidate, ZTI-01, is an injectable antibiotic which treats a broad range of infections including those caused by multi-drug resistant (MDR) bacteria.
Zavante is backed by leading life sciences investors including Aisling Capital, Frazier Healthcare Partners and Longitude Capital.