Venture funding for new antibiotics is declining just when innovation is needed most
Not long ago, Achaogen Inc. was flying high. In early 2017, the drugmaker’s market capitalization soared above $1 billion on high hopes for its new medicine, an antibiotic targeting complicated urinary-tract infections.
But in April—less than a year after the drug was approved by the Food and Drug Administration—Achaogen filed for bankruptcy.
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