Qpex Biopharma, a US-based infectious disease drug developer spun off from biopharmaceutical firm The Medicines Company, launched yesterday with $33m in series A capital supplied by backers including Stanford University Draper Fund.
The round was led by venture capital firm New Enterprise Associates and also included Adams Street Partners, Lyzz Capital and Hatteras Venture Partners.
Qpex was created to develop The Medicines Company’s preclinical-stage anti-infective assets. It is focusing particularly on superbugs – bacteria that have become resistant to existing antibiotic treatments.
Biomedical Advanced Research and Development Authority (Barda), the office of the US Department of Health and Human Services responsible for countering bioterrorism, awarded $32m in grant funding to Qpex in 2016 that could potentially be increased by a further $100m.
Michael Dudley, president and CEO of Qpex, said: “The urgent, global threat of antimicrobial resistance demands innovation and we are responding again to the calls sounded by the Centers for Disease Control and World Health Organisation for solutions by developing clinical candidates that we believe will be best-in-class anti-infective products.
“Our progress will be fueled by our proven established R&D partnership with Barda that has the potential to drive our new programs deep into late-stage development.”
The original version of this article appeared on our sister site, Global University Venturing.
