[Correction: 8:30 am Pacific, 4/7/10] Seattle-based Frazier Healthcare Ventures is leading a $56 million Series C venture investment in San Francisco-based Achaogen, a developer of new antibiotics that fight multi-drug resistant infections. Alta Partners also participated in the financing, along with existing investors Arch Venture Partners, 5AM Ventures, Domain Associates, Venrock Associates, Versant Ventures, and the Wellcome Trust. Bob More, a general partner with Frazier, will join Achaogen’s board in connection with the deal. [Correction: An earlier version said the financing brought in $65 million, based on an incorrect figure reported by PEHub.]
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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