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Achaogen is looking to sell its assets and close out its affairs through the bankruptcy process. News of the Chapter 11 filing comes 10 months after Achaogen won FDA approval for its antibiotic Zemdri.
The impact of Achaogen’s narrower-than-expected label for antibiotic Zemdri is now apparent: The biotech has slashed 28% of its staff and all but two R&D programs.
Achaogen announced it has signed an agreement with the Bill & Melinda Gates Foundation to prevent neonatal sepsis in developing countries through the generation of monoclonal antibodies against gram-negative bacteria.