2009 Fierce 15 winner Achaogen has announced that it has raised $56 million in a series C round of financing. New investors Frazier Healthcare Ventures and Alta Partners joined a syndicate of previous investors in the round.
When we last checked in with Achaogen, the San Francisco-based developer used chemistry to revive an old generation of antibiotics called aminoglycosides. The result was next-gen approach dubbed neoglycosides, which the company hopes can treat multi-drug resistant bacterial infections. Achaogen's most advanced drug candidate, ACHN-490, has demonstrated a positive safety and dosing profile in Phase I clinical testing and is now headed for Phase II trials. The drug is being explored as a treatment for multi-drug resistant (MDR) Gram-negative bacteria and MRSA.
"Our mission is to discover and develop life-saving antibiotics," states CEO Kevin Judice (photo). "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 II study in complicated urinary tract infections of ACHN-490, our lead candidate for multi-drug resistant bacterial infections."
- see Achaogen's release