Nabriva Therapeutics secures financing of up to US$120m
To advance development of antibiotics for the treatment of infections caused by resistant gram-positive and gram-negative bacteria
Austrian biotechnology company Nabriva Therapeutics, a developer of a new class of antibiotics called pleuromutilins for the treatment of infections caused by resistant gram-positive and gram-negative bacteria, has secured funding of up to US$120m.
The initial $50m will enable the Vienna-based company to progress its lead product, lefamulin, into clinical Phase III studies in community-acquired bacterial pneumonia (CABP) and to continue the development of its product pipeline.
Colin Broom, Chief Executive of Nabriva, said the investment is 'validation of Nabriva's approach in developing the pleuromutilin antibiotic class, which has a unique mechanism of action thereby helping to combat the current and evolving emergence of resistance to currently available antibiotics'.
The financing was led by new US-based investors Vivo Capital and OrbiMed. Chen Yu from Vivo and Chau Khuong from OrbiMed will join Nabriva's Supervisory Board.
Denise Pollard-Knight, Chairman of the Supervisory Board of Nabriva, said: 'This Series B [financing] is a strong financial and scientific endorsement and provides Nabriva with a solid foundation to build a patient-centric global biopharmaceutical company.'
