Armata Pharmaceuticals is a biotechnology establishment is solely focused on advanced research for antibiotic-resistant diseases. Armata focuses primarily on the highly complex diseases and bacterial infections for which no effective treatment exists.Armata announced on October 28, Thursday of the recent equity investment secured from Cystic Fibrosis Foundation. This involves participation of Innoviva Strategic Opportunities. Innoviva is a major shareholder in Armata Pharmaceuticals.
As per the agreement, CF Foundation has decided upon a $3.0 million equity investment while, Innoviva will also be investing $4.0 million in Armata stocks. plans on registering the shares expected in financing of the company within 120 days. is likely to gain an encouraging push with the investment agreements as the company current focuses on AP-PA02 candidate.
Pathogens like Pseudomonas aeruginosa are highly fatal components in an environment. These are considered to display dominance in threatening people with CF with higher mortality rate. This represents an alarming need for a targeted and effective treatment alternatives, said Mina Pastagia. Mina Pastagia, MD, MS serves as the Vice President overseeing Clinical Development Department at Armata.