Cambridge, MA-based Spero Therapeutics has completed a C round worth $51.7 million, with Google’s venture arm leading the fundraising for a biotech initially seeded at Atlas.
The money will be earmarked for the company’s work on new antibiotics. Investigators have moved into the clinic with SPR741, which used Spero’s platform potentiator tech to puncture the cell membranes of Gram-negative bacteria, opening a new door for Gram-positive antibiotics.
Spero gained $30 million from its A round in 2015, but this new syndicate on the C round has expanded considerably. GV, still often referred to as Google Ventures, led the way with RA Capital stepping in for the first time along with Rock Springs Capital.
Existing investors Atlas Venture, S.R. One, Limited, MRL Ventures Fund, Lundbeckfonden Ventures, The Kraft Group and Osage University Partners all participated.
“Spero is working on one of the greatest unmet needs in medicine – developing antibacterial treatments for some of the most resistant infections patients today,” said GV General Partner Krishna Yeshwant. “The company has assembled a team with the proven ability to bring new antibacterials to the market, and has made remarkable progress in building a differentiated pipeline in a short period of time.”
Get Endpoints News in your inbox
News reports for those who discover, develop, and market drugs. Join 13,500+ biopharma pros who read Endpoints News articles by email every day. Free subscription.
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.