An investment fund created to boost antibiotic development today announced its first round of investments in companies developing new treatments for superbugs.

The AMR Action Fund, established in 2020 and backed by some of the world's largest pharmaceutical companies and other stakeholders, announced in a press release that Adaptive Phage Therapeutics (APT) and Venatorx Pharmaceuticals will be the first recipients of funding. While the amount invested in the companies has not been disclosed, the fund says it plans to invest more than $100 million in biotech companies this year, and $1 billion over the decade.

"Adaptive Phage Therapeutics and Venatorx Pharmaceuticals are poised to change the treatment landscape for drug-resistant infections and deliver significant benefit to patients," AMR Action Fund CEO, Henry Skinner, PhD, said in the release. "While this is a major milestone for the Fund, our work is just beginning."

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