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Antibiotics developer Achaogen Inc. has raised $56mm in its Series C financing led by first-time backer Frazier Healthcare Ventures, which adds a board member and was joined by other new investor Alta Partners and returning shareholders 5AM Ventures, Arch Venture Partners, Domain Associates, Venrock Associates, Versant Ventures, and Wellcome Trust. The company will use some of the funds for a Phase II trial of its lead candidate ACHN490 for complicated urinary tract infections.
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