Novartis, Roche and GlaxoSmithKline all returned for the series B round, having already supported a $22m series A round for the Harvard spinout in 2015.
Macrolide Pharmaceuticals, a US-based antibiotics developer spun out from Harvard University, has closed a $20m series B round co-led by pharmaceutical firms Novartis, Roche and GlaxoSmithKline.
The three corporates invested through their respective corporate venturing vehicles Novartis Venture Fund, Roche Ventures and SR One. They co-led the round with Advent Life Sciences and Gurnet Point Capital.
Founded in 2015, Macrolide is developing antibiotics to address serious infections caused by resistant Gram-negative pathogens – bacteria that have become resistant to existing treatments.
The funding will support continued development of Macrolide’s antibiotics, including work ahead of an investigational new drug application.
Mahesh Karande has joined the company as president and CEO. Karande’s résumé includes several positions within Novartis and most recently vice-president and general manager at biopharmaceutical firm Intarcia Therapeutics.
Macrolide raised $22m in a series A round co-led by Novartis Venture Fund and Roche Ventures in 2015, with participation from SR One and Gurnet Point Capital.
The company previously received an undisclosed seed investment from Harvard University’s Blavatnik Biomedical Accelerator.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
