Rib-X, which is researching new antibiotics, has raised $50 million in its third round of venture capital. The round was led by Warburg Pincus. The New Haven, CN-based biotech company plans to use much of that money for two clinical programs.
"In the last three years, Rib-X has transitioned from a promising technology platform venture to a leading, clinical-stage antibiotics company," commented Stewart Hen, a Warburg Pincus managing director. "The company now has important products in development to treat the serious unmet need of drug-resistant bacteria in both the hospital and outpatient settings."
- here's the release on the latest round