Venatorx Pharmaceuticals Raises Series C Financing Led by the AMR Action Fund
Summary
“Bringing the AMR Action Fund on board—with its consortium of global pharmaceutical companies, industry experts and coalitions—helps to further propel Venatorx forward and brings much needed capital back into the antibiotics space.” To date, in addition to equity financings, Venatorx has also received significant funding awards from: the National Institute of Allergy and Infectious Diseases (NIAID) of the National Institutes of Health (NIH); the Wellcome Trust; the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response (ASPR) at the U.S. Department of Health and Human Service (HHS); the U.S. Department of Defense’s Defense Threat Reduction Agency (DTRA); as well as CARB-X. We are inspired by Venatorx’s positive results from its Phase 3 clinical trial and believe that the company’s deep domain expertise and innovative portfolio positions it to make a significant difference in clinical practices and save lives.” Venatorx is a private, clinical-stage pharmaceutical company focused on improving health outcomes for patients with multidrug-resistant bacterial infections and hard-to-treat viral infections. Based on positive results from the CERTAIN-1 clinical trial, Venatorx expects to submit a New Drug Application to the FDA for cefepime-taniborbactam in the fourth quarter 2022. The concept of the AMR Action Fund was developed by the International Federation of Pharmaceutical Manufacturers & Associations and its member biopharmaceutical companies, in collaboration with the World Health Organization, the European Investment Bank, and the Wellcome Trust. Investors in the AMR Action Fund include: Almirall; Amgen; Bayer; Boehringer Ingelheim; Boehringer Ingelheim Foundation; Chugai; Daiichi-Sankyo; Eisai; Eli Lilly and Company; the European Investment Bank (with the support of the European Commission under Horizon 2020, the 2014-2020 European Union research and innovation program); GlaxoSmithKline; Johnson & Johnson; LEO Pharma; Lundbeck; Menarini; Merck; Merck KGaA, Darmstadt, Germany; Novartis; Novo Nordisk; Novo Nordisk Foundation; Pfizer; Roche; Shionogi; Takeda; Teva; UCB; and Wellcome Trust.