Sign in Subscribe
Social services

Venatorx Pharmaceuticals Receives Up to $318M in Funding for Development and Procurement of Novel Antibiotic

Strategic Insights

— 2 min read

Venatorx Pharmaceuticals, a private, late-stage clinical pharmaceutical company, has announced a contract with the Biomedical Advanced Research and Development Authority (BARDA) to support the development of cefepime-taniborbactam, a novel antibiotic for the treatment of melioidosis and multi-drug resistant infections. The contract, which leverages the 2004 Project BioShield Act, has a total value of up to $318 million, with an initial award of approximately $72 million. This funding will support the completion of a clinical study in Hospital-Acquired Bacterial Pneumonia/Verucular Abscess Bacteria (HABP/VABP) and the submission of a pre-Emergency Use Authorization (EUA) package to the FDA for melioidosis.

Key Takeaways:

  • Venatorx Pharmaceuticals has received a contract from BARDA worth up to $318 million for the development and procurement of cefepime-taniborbactam, a novel antibiotic for the treatment of melioidosis and multi-drug resistant infections.
  • The contract leverages the 2004 Project BioShield Act, enabling acceleration of the research, development, purchase, and availability of effective medical products against chemical, biological, radiological, or nuclear agents.
  • The initial award is approximately $72 million, and Venatorx may receive additional funding of up to approximately $67 million for further development of cefepime-taniborbactam and up to $179 million for product procurement.
  • Cefepime-taniborbactam is a combination of cefepime, a fourth-generation cephalosporin, and taniborbactam, a beta-lactamase inhibitor, which may offer a new treatment option for patients with complicated urinary tract infections and multi-drug resistant gram-negative bacteria.
  • This project has been funded in whole or in part with federal funds from the Administration for Strategic Preparedness and Response, Biomedical Advanced Research and Development Authority, under contract number 75A50122C00080.
  • Venatorx has also received grants from the National Institute of Allergy and Infectious Diseases, National Institutes of Health, under contract number HHSN272201300019C, and the Wellcome Trust under Award No. 360G-Wellcome-101999/Z/13/Z.

Statistics:

  • Up to $318 million: Total value of the contract for the development and procurement of cefepime-taniborbactam
  • $72 million: Initial award for the development of cefepime-taniborbactam
  • $67 million: Potential additional funding for further development of cefepime-taniborbactam
  • $179 million: Potential additional funding for product procurement
  • 2004: Year the Project BioShield Act was enabled
  • 2018: Year Venatorx entered into an exclusive license agreement with Everest Medicines for the development, registration, and commercialization of cefepime-taniborbactam in Greater China, South Korea, and select countries in Southeast Asia
  • 2020: Year Venatorx and GARDP announced a collaboration to accelerate the development of, and access to, cefepime-taniborbactam for adult and pediatric populations

Sources:

  • Business Wire: Venatorx Pharmaceuticals Announces Biomedical Advanced Research and Development Authority (BARDA) Has Awarded the Company a Contract to Support Development of Cefepime-Taniborbactam for Treatment of Melioidosis https://www.businesswire.com/news/home/20221003005109/en/
  • Venatorx Pharmaceuticals: About Us https://www.venatorx.com/about-venatorx-pharmaceuticals/
  • National Institutes of Health: HHSN272201300019C https://projectreporter.nih.gov/project_info_description.cfm?aid=9255558
  • Wellcome Trust: 360G-Wellcome-101999/Z/13/Z https://wellcome.org/grant/360g-wellcome-101999-z-13-z

Read more