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GLSV co-finances Sandoz spin-off Nabriva GmbH

02 Feb 2006 - Global Life Science Ventures (GLSV) announced the launch of Nabriva GmbH, a specialist antibiotic research and development company that has existed until now within Sandoz GmbH as the Vienna-based Antibiotic Research Institute (ABRI). GLSV is investing EUR6 million in a Series A financing round totalling EUR42 million, as part of a syndicate led by Nomura and also including Wellcome, HBM and Novartis Bioventures.
 
ABRI was originally founded in 2001 with the objective of discovering and developing new antibiotic compounds. With Sandoz's recent strategic re-orientation as the generics company within Novartis, it was decided 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. Nabriva has a strong pipeline of antibacterial drugs including three late preclinical projects and one product about to enter Phase 1 clinical trials. All the projects are based on families of small molecules with known antibiotic activity.