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Nabriva Therapeutics Raises $22 Million



10/28/2009 7:25:29 AM

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VIENNA--(BUSINESS WIRE)--Nabriva Therapeutics, a biotechnology company focused on developing a new class of antibiotics for serious infections caused by resistant pathogens, today announced the closing of a EUR 15 Million financing, bringing the total equity funding raised by the company to EUR 57.4 Million (USD 84 Million) since it’s foundation in 2006.

Nabriva’s existing investors Nomura Phase 4 Ventures, HBM Partners, Wellcome Trust, GLS Ventures, and Novartis Venture Fund participated in this round.

Dr. David Chiswell, CEO of Nabriva Therapeutics said: "These additional funds extend Nabriva’s cash reach into 2011 and will fund the development of our systemic pleuromutilin program up to and including the generation of phase II efficacy data in the second half of 2010 .”

Ralf Schmid, CFO of Nabriva added: “We are delighted that our existing investors have shown such a solid commitment to Nabriva and its drug candidates.”

About Nabriva Therapeutics

Nabriva Therapeutics is a biotechnology company focused on developing a new class of antibiotics for the treatment of serious infections caused by resistant pathogens. The Company’s systemically available pleuromutilin program is generating extensive clinical phase I data ahead of the Phase II program starting in 2010 with efficacy data in cSSSI expected in the second half of 2010. In addition, Nabriva Therapeutics’ topical pleuromutilin product candidate, BC-7013, is also in clinical phase I.

Nabriva Therapeutics has a proven track record in world-class medicinal chemistry, clinical expertise, a seasoned management team and solid IP. Nabriva Therapeutics is located in Vienna, Austria.

For more information on Nabriva Therapeutics please visit www.nabriva.com.

Contact:

Nabriva Therapeutics AG Dr David Chiswell, CEO T +43 (0)1 740 93-0 OFFICE@NABRIVA.COM or College Hill Life Sciences Dr Douglas Pretsell, Senior Account Director T +49 (0)89 57001806 douglas.pretsell@collegehill.com


Read at BioSpace.com


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