Antibiotic play Zavante raises $45M
Zavante Therapeutics Inc. (San Diego, Calif.) raised $45 million in a series A round co-led by Frazier Healthcare Partners and Longitude Capital. Aisling Capital also participated. The round comprised $35 million in new funds and $10 million from convertible notes.
Zavante's lead program is ZTI-01, an injectable formulation of fosfomycin, to treat multidrug resistant pathogens in the hospital setting. In 2Q16, Zavante plans to start the Phase II/III ZEUS trial of ZTI-01 to treat complicated urinary tract infections (cUTIs), for which the therapy has Qualified Infectious Disease Product (QIDP) and Fast Track designations from FDA. In December, Zavante said the agency endorsed a development plan that includes only one pivotal study of ZTI-01. ...