2023-07-11 08:50:31 ET
Biotechnology company focused on pathogen?specific bacteriophage therapeutics for antibiotic?resistant and difficult?to?treat bacterial infections, Armata Pharmaceuticals ( NYSE: ARMP ) enters into a credit and security agreement with Innoviva Strategic Opportunities, a wholly?owned subsidiary of Innoviva ( INVA ) for gross proceeds of the credit agreement at closing are $25M before transaction?related expenses.
Armata ( ARMP ) also announced leadership transition whereby Dr. Deborah L. Birx will succeed Dr. Brian Varnum as the CEO of the company, effective immediately.
The company will be used to advance the company's pipeline of therapeutic phage candidates, including AP?PA02 and AP?SA02, which target infections caused by Pseudomonas aeruginosa and Staphylococcus aureus, respectively.
The company will also use funds to complete the build?out of its state?of?the?art cGMP manufacturing facility.
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Armata Pharmaceuticals gets $25M in financing and new executive chief