Last month, Gaithersburg-based Adaptive Phage Therapeutics, Inc. (“APT”), a clinical-stage biotechnology company dedicated to providing therapies to treat infectious diseases, announced that the AMR Action Fund has added $20 million to an existing $41 million Series B round as a co-investor, bringing the Series B total to $61 million. The new funding follows initial Series B closing in May 2021 and will be used to accelerate clinical trials against Prosthetic Joint Infection (PJI) and Diabetic Foot Osteomyelitis (DFO).
Per the press release: The round was initiated in May 2021 and led by Deerfield Management Company, with participation from a second institutional investor and Mayo Clinic. Proceeds of the AMR Action Fund’s investment are primarily intended to support APT’s clinical trials to address substantial unmet patient needs in Prosthetic Joint Infection (PJI) and Diabetic Foot Osteomyelitis (DFO).