Life sciences company Malin Corporation has invested $35m in Melinta Therapeutics, a company developing new antibiotics to treat bacterial infections.
The Dublin-listed company has also committed to invest a further $10m in Melinta.
This is the first transaction by Malin since the initial public offering of its shares through which it raised €330m in March in order to make investments in promising privately-held companies.
The rate at which drug resistant infections are emerging and spreading has been identified by the World Health Organisation as "a problem so serious it threatens the achievements of modern medicine".
Melinta is working on novel antibiotics which, it hopes, may provide a solution to this problem.
It said the funding from Malin will help it progress its research to the point of making its first submission to US regulators as it begins the long process of seeking approval for a new treatment.
