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Business

Iterum raises funds for new antibiotic

by Michael McCoy
May 29, 2017 | APPEARED IN VOLUME 95, ISSUE 22

The biotech firm Iterum Therapeutics has raised $65 million in a series B investment round. The cash will help the company complete a Phase III clinical trial of sulopenem, an antibiotic it is developing to treat Gram-negative multi-drug-resistant infections. Iterum was founded in 2015 to license sulopenem from its discoverer, Pfizer. It plans to file a New Drug Application with FDA by the end of 2019.

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