CARB-X Partnership Puts Antibiotics' Future In Biotech Startups' Hands
The biotech startups that will be supported by a new transatlantic public-private partnership could end up with innovative products enticing enough to get some large biopharmaceutical firms back into the antibiotic game.
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Private Company Edition: The global accelerator has new commitments from HHS and the Wellcome Trust. Also, Apollo buys into Sofinnova Partners with an up to €1bn investment, Castle Creek raised $124.6m in private funding this year in lieu of an IPO and Remix closed a $70m series B round.
The industry-backed investment fund to combat antimicrobial resistance hopes to be operational by end of year and begin assessing programs to invest in during the first quarter of 2021.
News of 5AM's two latest venture funds follows the launch of Longevity Vision Fund as well as LA BioMed's and RUNLABS’ announcements that they will open new incubators in 2019. Also, Passage Bio launches with $115.5m, but the largest recent VC deal was HaiHe's $146.6m financing.