Wednesday, March 30, 2016

Zavante Therapeutics Gets $45M

San Diego-based Zavante Therapeutics, a biopharmaceuticals firm developing injectable antibiotics, has raised $45M in a Series A financing round. Zavante said the investment was led by Frazier Healthcare Partners and Longitude Capital, and also included Aisling Capital. The new funding included $35M in new investment, and $10M in conversion of existing convertible notes. As part of the funding, David Hirsch of Longitude Capital will take a board seat, and Andrew Schiff of Aisling Capital will join as an observer. Zavante's lead compound is an injectable, broad spectrum IV antibiotic, being targeted at treating multidrug resistant (MDR) pathogens.