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.

→ Canada’s Theratechnologies reports that its partner, TaiMed Biologics, has completed the submission of a BLA to the FDA for its HIV drug ibalizumab. The company adds: “If approved, ibalizumab will be the first antiretroviral treatment (ART) with a new mechanism of action to be introduced in nearly 10 years and the only treatment that does not require daily dosing. As ibalizumab has received the Breakthrough Therapy and Orphan Drug Designations, TaiMed has requested Priority Review for the application.”

Get Endpoints News in your inbox

News reports for those who discover, develop, and market drugs. Join 16,000+ biopharma pros who read Endpoints News articles by email every day. Free subscription.

Quick Subscribe

You're subscribing to Endpoints News

John Carroll, Editor and Co-Founder

We produce two daily newsletters designed to give you a complete picture of what's important in biopharma.

Early Edition is a skimmable digest of original sources you need to see by ~7:15a ET, and our Main Edition is the daily chronicle of biotech, with every story inside the email ~11:55a ET.
2x/weekdays. Privacy policy

EvaluatePharma World Preview 2017