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29 Apr 2013

Achaogen signs $60m contract to launch Phase 3 drug trails

US pharma firm Achaogen has signed a new deal to push forward its research into plazomicin.

The Biomedical Advanced Research and Development Authority (BADRA) has awarded Achaogen Inc a $60 million contract option to support the ongoing clinical development of plazomicin.
The drug, which was developed by the US pharmaceutical firm with the primary aim of overcoming resistances to existing treatments for serious gram-negative bacterial infections, has already successfully negotiated a series of Phase II trials.
Now, a global Phase 3 study is set to be launched after the company won the fresh cash injection, with work on assessing the effectiveness of plazomicin in the treatment of multi-drug resistant bacterial infections likely to get underway at the end of the current year.
Welcoming the development, Achaogen chief executive Kenneth J Hillan said he was both "excited and honoured to continue the development of plazomicin in partnership with BARDA".
This new contract option beings the total value of the contract to around $103 million.
Towards the start of the current year, Achaogen won the Biotech Healthcare Investor' category at the annual San Mateo Economic Development Awards of Excellence.

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