Allecra Therapeutics Announces New Staged Financing Deal to Take the Company Through to End of Phase 3
in portfolio news
Allecra Therapeutics, a biopharmaceutical company dedicated to the development of novel antibiotics for the treatment of drug-resistant bacterial infections, announces today the initial closing of a staged financing deal designed to complete Phase 3 for Allecra’s lead drug development candidate, AAI101. The round was led by new investor, Xeraya Capital. New investor BioMedPartners also participated in the first stage of the financing, which raised €9 million.
The proceeds will fund development of Allecra’s novel Extended Spectrum β-lactamase inhibitor, AAI101, which is designed to treat drug-resistant Gram-negative bacterial infections. AAI101 is delivered in combination with the powerful 4th generation cephalosporin antibiotic, cefepime.