Zavante raises $45 mln to develop injectable antibiotic

Zavante Therapeutics Inc announced that it closed a $45 million Series A round, which the San Diego company will use to develop an injectable antibiotic to treat multidrug resistant (MDR) pathogens. The round was comprised of $35 million from new investors and $10 million from the conversion of outstanding convertible notes. It was co-led by Frazier Healthcare Partners and Longitude Capital, with participation from Aisling Capital. As part of the deal, Frazier Healthcare Managing General Partner Patrick Heron and Longitude Capital Managing Director David Hirsch will join Zavante’s board of directors.

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