US-based anti-infective treatment developer Entasis Therapeutics closed a $50m series B round yesterday that included pharmaceutical companies Novo and AstraZeneca.
Life sciences-focused investment firm Clarus led the round, which also featured specialist investment firm Frazier Healthcare Partners and investment adviser Eventide Funds.
Entasis is working on drugs to combat drug-resistant bacterial infections, and the financing will be used to advance a pipeline of clinical and preclinical candidates. AstraZeneca spun the company out in February 2015 with $40m of funding to develop its small-molecule anti-infectives portfolio.
Manos Perros, president and chief executive of Entasis, said: “We are pleased to have such a high-quality and experienced group of investors join us as we develop transformative therapies for patients suffering from serious and life-threatening infections.
“The proceeds from this financing will enable us to further advance our portfolio of innovative anti-infective products directed at addressing the global health crisis created by the rise in antibiotic resistance in a fundamentally differentiated way.”
Peter Tuxen Bisgaard, senior partner of Novo subsidiary Novo Ventures US, will join the board of Entasis in conjunction with the round, alongside Nicholas Galakatos of Clarus, who is taking on the role of chairman, and James Topper of Frazier Healthcare.