UNQUOTE

Vienna-based Nabriva receives EUR 42m in early-stage funding

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A syndicate of investors led by Nomura, including Global Life Science Ventures, HBM Bioventures, Novartis Bioventures and Wellcome has provided EUR 42m in financing to antibiotic research concern Nabriva GmbH. GLSV committed EUR 6m in the series A financing round. Nabriva GmbH, which was launched today as an independent concern, previously existed within Sandoz GmbH as the Vienna-based Antibiotic Research Institute (ABRI).

ABRI was originally founded in 2001 with the objective of discovering and developing new antibiotic compounds. As a result of Sandoz's recent strategic re-orientation as the generics company within Novartis, the decision was taken to spin off ABRI and allow the late-preclinical stage company to develop outside of the Sandoz structure. Nabriva will focus on the development of small molecule antibiotics for use in community and hospital infections.
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