BioVersys AG successfully closes Series A2 financing round
Basel, November 20, 2017
BioVersys AG announced today that it has successfully closed a Series A2 financing round of CHF 5 million with existing private investors. “We would like to thank our investors for their ongoing support. The funds will be used to prepare for clinical development with BioVersys’ lead project directed at Tuberculosis and to advance our discovery pipeline directed against antimicrobial resistance” commented Dr. Marc Gitzinger (CEO).
Tuberculosis is a neglected disease that is responsible for over 1.8 million casualties annually and the disease is becoming increasingly drug resistant. New treatment options are urgently needed and BioVersys’ TRIC technology offers a unique opportunity for patients by reversing resistance and strengthening the activity of an established antibiotic for Tuberculosis. “The safety and efficacy data produced in animal models looks so promising that we can’t wait to bring this new treatment option to patients in need” says Dr. Sergio Lociuro (CSO).
BioVersys has two additional pipeline projects directed against the so-called superbugs (highly antibiotic resistant bacteria) benefitting from the same proprietary TRIC technology. Dr. Seng Chin Mah (Chairman of the Board) commented: “The world is facing an impending antibiotic apocalypse as a result of rapidly developing bacterial resistance to all current antibiotics. Unfortunately, many large pharma companies have left the field of antimicrobial research and development. I’m very proud that BioVersys has a technology that has the chance to bring new and innovative products to this area of urgent unmet medical need and that the company has a knowledgeable and supportive investor base”.