Drug Developer Achaogen Files For $75 Million IPO
Published: Jan 27, 2014
Antibacterial drug developer Achaogen Inc. filed Friday for a $75 million initial public offering aimed at funding its answer to a so-called "nightmare bacteria." The South San Francisco, which would trade on the NASDAQ exchange as "AKAO," has been backed by Venrock, 5AM Ventures, Versant Ventures, Alta Partners, Arch Venture Partners, Domain Partners, Omega Funds, Frazier Healthcare Ventures and the Wellcome Trust. Achaogen's lead drug, plazomicin, is designed to treat serious bacterial infections caused by multi-drug resistant Enterobacteriaceae, a large family of Gram-negative bacteria that includes Salmonella.
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