BioVersys Announces CHF 19 Million Financing to Advance Novel AMR Candidates into Clinical Development
Basel, Switzerland. September 1, 2020. 09:00 CEST
BioVersys announces the successful completion of a CHF 19 million Series B financing round to advance its two lead assets of infectious disease candidates into first in human clinical trials and has also strengthened its board with the appointment of Dr. Eduard Holdener.
BioVersys AG, a privately owned, multi-asset Swiss pharmaceutical company focuses on developing small molecules for multidrug-resistant bacterial infections with applications in AntiMicrobial Resistance (AMR) and targeted microbiome modulation. AMR is one of the greatest global healthcare threats and unmet medical need, already killing more than 750,000 people every year and potentially 10 million people annually by 2050 in the absence of novel lifesaving treatments.
This CHF 19 million Series B financing is a significant achievement in the field of AMR and will enable BioVersys to further develop its unique AMR-fighting pipeline with two lead candidates poised to enter into clinical Phase 1 this year.
- BV100 is a potential breakthrough hospital antibiotic to treat serious infections caused by carbapenem resistant Acinetobacter baumannii (CRAB) in indications of ventilatorassociated bacterial pneumonia (VABP), hospital-acquired bacterial pneumonia (HABP) and bloodstream infections (BSI), for which there are little to no effective and safe treatment options. BV100 has shown outstanding in vitro and in vivo efficacy in several animal models, with unprecedented in vitro strain coverage against CRAB and a very low propensity to develop resistance.
- BVL-GSK098 is a novel compound potentiating and overcoming the resistance against Ethionamide (Eto) for the treatment of tuberculosis. BVL-GSK098 targets bacterial transcriptional regulators, a groundbreaking approach that will be assessed globally for the first time in clinical trials. BVL-GSK098 is developed in combination with Eto for the treatment of tuberculosis in collaboration with GSK. The program is supported by the IMI2 AMR Accelerator from the EU.
This Series B complements the CHF 16.5 million of non-dilutive funding raised in 2019 from CARB-X and the IMI2-JU/European Union. With the appointment of Dr. Ed Holdener to the board, BioVersys brings additional clinical development experience to the company. Dr. Holdener is currently serving on the board of HBM Healthcare Investments and was previously Executive Chairman of the Board of Directors at Novimmune S.A. which was sold in July 2019. Prior to Novimmune, Dr. Holdener was Head of Global Clinical Development and Chief Medical Officer at F. Hoffmann-La Roche.