Vivo and OrbiMed lead $120m series-B for Nabriva Therapeutics

Other investors in the round included EcoR1 Capital, Boxer Capital and Tavistock Life Sciences. Existing investor HBM Partners made a new investment as part of the series-B, while other existing investors Phase4 Partners, Wellcome Trust, Global Life Sciences Ventures (GLSV) and Novartis Venture Fund also participated.

The deal will see an initial $50m lump sum invested in Nabriva, with additional capital to be made available as the company's products are developed further, complete clinical trials and receive approvals.

Vivo Capital and OrbiMed representatives will join the company's board following the round.

Previous funding
Nabriva raised €42m in series-A led by GLSV in March 2006, which saw participation from HBM, Nomura's Phase4, Novartis Venture Fund and Wellcome Trust.

In October 2009, the company raised a further €15m from existing investors. The company also saw investment led by the existing investors in 2011, raising €9m in convertible loans.

Company
Spun-out of Novartis subsidiary Sandoz in 2006, Vienna-based Nabriva Therapeutics is a pharmaceutical company that develops antibiotics.

Its lead product is lefamulin, a drug for treating community-acquired bacterial pneumonia, which is currently entering phase three studies.

People
Chen Yu is the managing partner of Vivo Capital. Colin Broom is the CEO of Nabriva Therapeutics.

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