GLSV finances new antibiotic R&D firm, Nabriva
German investment organization Global Life Science Ventures has announced the launch of Nabriva GmbH, a specialist antibiotic R&D company. The new firm, which was previously part of Sandoz GmbH as the Vienna, Austria-based Antibiotic Research Institute, will receive a 6.0-million euro ($7.3 million) investment from GLSV as part of a series A financing round totalling 42.0 million euros made up of investment from Nomura, Wellcome, HBM and Novartis Bioventures.
GLSV says that Nabriva will focus on the development of small-molecule antibiotics for the treatment of community and hospital-acquired infections. Currently the firm's pipeline comprises three late-stage compounds, one of which is due to enter Phase I trials. GLSV notes that the US antibiotic market, a key target for the new company, was valued at $15.4 billion in 2004.
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