Date: 2011-03-31
Type of information: Fundraising
Company: BioVersys (Switzerland)
Investors: EVA (Switzerland) - BioValley Business Angels Club BioBAC (Switzerland)
Amount: CHF 2.5 millions (€1.9 million)
Funding type: seed financing round
Planned used: The funds will enable BioVersys to expand the development of its novel class of therapeutic compounds to overcome drug resistance within highly pathogenic bacteria. BioVersys targets a class of bacterial transcriptional regulators, which initiate bacterial defense mechanisms causing drug resistance. The company created a novel class of therapeutic compounds called TRIC (Transcriptional Repressor Inhibiting Compound), which “switches off” bacterial resistance. Co-administration of BioVersys’ proprietary TRIC’s together with an existing antibiotic restores the effectiveness of antibiotics previously rendered ineffective due to resistance. To date, BioVersys has applied its TRIC discovery technology to identify and characterize a series of small molecules that specifically overcome drug resistance in tuberculosis bacteria and is currently expanding its portfolio towards another area of high unmet medical need, nosocomial infections.
Others: BioVersys has closed a seed financing round of CHF 2.5 millions (€1.9 million). With these funds , BioVersys has taken the first step towards the development of noveltherapies to overcome bacterial resistance against antibiotics. EVA – the Basel life sciences Start-Up agency” led this financing round, which included a circle of highly-experienced private investors out of the BioValley Business Angels Club BioBAC. Further details of the transaction will not be disclosed.
Therapeutic area: Infectious diseases
