Date: 2017-04-12
Type of information: Private placement
Company: Polyphor (Switzerland)
Investors: Varuma (Switzerland) Ingro Finanz (Switzerland)
Amount: CHF 40 million (€ 37.43 million)
Funding type: private placement
Planned used:
- The proceeds will be used to finance the Pharma business unit, and particularly the pivotal registration program of murepavadin (POL7080) against Pseudomonas aeruginosa, and the proof of concept program for the elastase inhibitor POL6014.
- Further, the proceeds will also be used to finance the completion of the preclinical development of the Polyphor antibiotic platform to progress candidates into the clinical stage.
Murepavadin (POL7080) is the first representative of the Outer Membrane Protein Targeting Antibiotics (OMPTA) class, a class of antibiotics against Gram-negative bacteria with a novel mode of action discovered by Polyphor.
Others:
- • On April 12, 2017, Polyphor announced that it completed a CHF 40 million private placement. Exisiting Polyphor investors contributed to 98% of the financing. Under the terms of the transaction, Polyphor received CHF 10 million and will call the remaining CHF 30 million in the second half of the year after the successful completion of the clinical end of Phase II meeting for its lead clinical stage antibiotic, murepavadin, with the FDA. Polyphor has been backed by its existing investors, including its anchor investors Varuma AG and Ingro Finanz AG.
Therapeutic area: Infectious diseases
Is general: Yes
