Frazier, Arch Join $56M Antibiotic Deal

[Correction: 8:30 am Pacific, 4/7/10] Seattle-based Frazier Healthcare Ventures is leading a $56 million Series C venture investment in San Francisco-based Achaogen, a developer of new antibiotics that fight multi-drug resistant infections. Alta Partners also participated in the financing, along with existing investors Arch Venture Partners, 5AM Ventures, Domain Associates, Venrock Associates, Versant Ventures, and the Wellcome Trust. Bob More, a general partner with Frazier, will join Achaogen’s board in connection with the deal. [Correction: An earlier version said the financing brought in $65 million, based on an incorrect figure reported by PEHub.]

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