Forge Therapeutics Raises $15M Series A Financing to Develop First Novel Gram-Negative Antibiotic in Decades
Alexandria Real Estate Equities, Inc. (ARE)
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Source: PR Newswire
SAN DIEGO, April 25, 2017 /PRNewswire/ -- Forge Therapeutics, Inc., (Forge), a biotechnology company discovering first-in-class antibiotics using a breakthrough drug discovery platform, announced today the completion of a $15M Series A financing. The round is led by MagnaSci Ventures, with participation from Evotec AG, Alexandria Venture Investments, MP Healthcare Venture Management, Red Apple Group, and WS Investments. Forge has used its enabling technology to identify a novel LpxC inhibitor effective against multi-drug resistant bacteria 'superbugs,' and the funding will support the program into clinical studies. "This financing is an important step forward to solving the 'superbug' epidemic, an urgent global health issue in desperate need of innovation. We've been impressed with the strength of the Forge team, their technologies and their commitment to innovating the antibiotic space," said Brian T. Dorsey, Founding Partner at MagnaSci Ventures. "With ou
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