AMR Action Fund added $20m to a round for the drug-resistant bacteria treatment developer following a Mayo Clinic-backed first close last May.

US-based infectious disease treatment developer Adaptive Phage Therapeutics (APT) increased the size of a series B round already featuring medical research and care provider Mayo Clinic to $61m yesterday.

The $20m top-up came from AMR Action Fund, a private-public partnership backed by European Investment Bank and pharmaceutical firms including Pfizer, Novartis, Takeda, Merck Group, Merck & Co and GlaxoSmithKline dedicated to countering antibacterial resistance.

The company raised the initial $40.8m in a May 2021 first tranche led by Deerfield…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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