A $1 billion fund backed by over 20 drugmakers made its first set of investments on Monday in two biotechnology startups, nearly two years after it was launched to help struggling antibiotic makers tackle the threat of antibiotic-resistant bacteria.
The AMR Action fund invested $20 million in Adaptive Phage Therapeutics as part of an ongoing series B round and spent an undisclosed amount in a series C round for Venatorx Pharmaceuticals. The fund plans to invest over $100 million by the end of the year.
Read the full story on Reuters: https://www.reuters.com/business/healthcare-pharmaceuticals/pharma-industry-backed-fund-invests-two-biotech-companies-treat-superbugs-2022-04-04/
