Venture capital firm Frazier Healthcare Partners has spun out a US-based antibiotics developer with the help of grant funding from a Boston University-operated body and a $8.5m series A round.
Healthcare-focused venture capital firm Frazier Healthcare Partners has spun out US-based antibiotics developer Recida Therapeutics with a grant from Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (Carb-X), an international research funding body operated by Boston University.
Carb-X’s award of up to $4.4m will complement capital from Recida’s $8.5m series A financing round, led by Frazier Healthcare Partners with backing from undisclosed additional investors.
Recida Therapeutics’ lead asset, RC-01, is designed to treat serious antibiotic-resistant infections where gram-negative bacteria resilient to an array of existing drugs are free to thrive and endanger the patient.
RC-01 focuses on inhibiting bacterial LpxC, an enzyme crucial to the biosynthesis process Lipid A, which forms part of the outer membrane on gram-negative bacteria and is thus crucial for their survival.
Recida Therapeutics expects to apply to US regulator Food and Drug Administration for investigational new drug status for RC-01 by the end of…
