Macrolide Pharmaceuticals, a Newton, MA-based developer of technology to advance novel antibiotics, completed a $22m Series A financing.
Backers in the round, which followed a worldwide license agreement between Harvard’s Office of Technology Development and the company, providing exclusive rights to the technology, included Novartis Venture Fund, Gurnet Point Capital, Roche Ventures, and SROne.
The company intends to use the funds to expand its proprietary drug discovery platform and accelerate the development of a pipeline of novel antibiotics.
Led by Dr. Lawrence Miller, co-founder, Macrolide Pharmaceuticals focuses on the discovery and development of novel macrolide antibiotics for the treatment of life-threatening bacterial infections caused by drug resistant pathogens.
Based on chemistry developed by Prof. Andrew Myers of Harvard University, the new technology can synthesize a huge range of macrolides. The company seeks to extend the anti-bacterial spectrum of the macrolide class, both in Gram-negative infections where treatment options are limited and Gram-positive organisms where macrolides have been in widespread use.
FinSMEs
04/03/2015