After coining the word “antibiotic” for bacteria-killing chemicals derived from micro-organisms, American microbiologist Selman A. Waksman, working with Albert Schatz at Rutgers University, isolated streptomycin?the fourth antibiotic ever discovered. Waksman won the 1952 Nobel Prize in Physiology or Medicine for the discovery. Streptomycin acts by inhibiting protein synthesis and damaging cell membranes. Produced by soil bacteria, it was the first specific agent effective in the treatment of TB.
Streptomycin was first isolated on October 19, 1943 by Albert Schatz, a graduate student, in the laboratory of Selman Abraham Waksman at Rutgers University. Waksman and his laboratory discovered several antibiotics, including actinomycin, clavacin, streptothricin, streptomycin, grisein, neomycin, fradicin, candicidin and candidin. Of these, streptomycin and neomycin found extensive application in the treatment of numerous infectious diseases. Streptomycin was the first antibiotic that could be used to cure the disease tuberculosis; early production of the drug was dominated by Merck & Co. under George W. Merck.
(more at link below)
Yes, the Waksman Institute is, of course, named after Selman Waksman. The sad part is that grad student Albert Schatz spent many years trying to receive partial credit for the discovery but was generally ignored by Waksman. Waksman won the Nobel. Schultz eventually went to court and was partially vindicated but it tarnished the reputation of both men.