Achaogen takes in $5.6M to fight bacterial infections
Pharmaceutical company Achaogen received a $5.6 million grant from the U.K.-based Wellcome Trust as part of its Seeding Drug Discovery Initiative. The money will go toward phase one clinical trials of the San Francisco company’s lead drug candidates, aimed at treating bacterial infections that are already resistent to multiple antibiotics.
It last raised funds in 2006, bringing in $26 million in second-round funding from Venrock, Versant Ventures, Domain Associates and Arch Venture Partners.
Achaogen, an antibacterial co., raises $26M
Achaogen, a South San Francisco developer of antibacterial compounds, said it has raised $26M in a second round of financing, led by new investor Domain Venture Partners.
All of Achaogen’s first-round investors (5AM Ventures, ARCH Venture Partners, Venrock Associates, and Versant Ventures) participated in the round, it said. The company said it will use the money to advance its lead antibacterial program through clinical proof of concept, and to progress additional programs through preclinical development.
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