Blacksmith Medicines focuses on discovering and developing novel small-molecule medicines that target metalloenzymes involved in antibiotic resistance, with its lead program aimed at treating urinary tract infections caused by multidrug-resistant Gram-negative bacteria. The company’s current priority is advancing this lead compound into Phase 1 clinical trials. To finance these studies, Blacksmith just secured an initial $3.3 million non-dilutive award from the National Institute of Allergy and Infectious Diseases (NIAID). The award is part of a broader NIH contract that could total up to $17.2 million over five years, providing runway through early-stage clinical development. Previous equity backers of the company include Lilly, Evotec A.G., MP Healthcare Partners, MagnaSci Ventures, and Alexandria Venture Investments, underscoring industry support for its metallobiology platform. While revenue has not yet been reported, the new NIH funding materially strengthens the balance sheet and reduces near-term financing risk. Looking ahead, Blacksmith intends to leverage its proprietary chemistry platform to expand its pipeline of anti-infective candidates targeting urgent public-health threats.

Total raised

$3M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2024