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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