Gates Foundation fuels Achaogen’s antibody platform with $20.5M commitment; Ignyta raises $77M
→ The Bill & Melinda Gates Foundation has come in with a major assist at Achaogen $AKAO. The nonprofit will invest $10 million in the company and add a $10.5 million grant to fuel the biotech’s work on antibody candidates against gram-negative bacteria, including those that cause neonatal sepsis. That effort could help reduce neonatal mortality in developing countries.
→ Ignyta $RXDX raised about $77 million in a follow-on offering of stock. The money is being earmarked for R&D work on a slate of drugs, including entrectinib.
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