Date: 2013-06-27
Type of information: Series A financing round
Company: BioVersys (Switzerland)
Investors:
Amount: undisclosed
Funding type: series A financing round
Planned used: The funds will be used to conclude BioVersys\' preclinical work with its first lead compounds and efficiently move towards a clinical trial application for first tests in man. The company targets a class of bacterial proteins that control bacterial defense mechanisms thus causing antibiotic resistance. BioVersys has identified a novel class of therapeutic compounds called TRICs (Transcription Regulator Inhibitory Compound), which “switch off” bacterial resistance. Co-administration of BioVersys’ proprietary compounds together with an existing antibiotic restores the effectiveness of antibiotics previously rendered ineffective due to resistance. BioVersys already has in vivo proof-of-concept of its TRIC technology by way of identification and characterization of a series of small molecules that specifically overcome drug resistance in tuberculosis bacteria. The new funds will allow the company to move towards the clinic in another area of high unmet medical need, nosocomial (hospital) infections.
Others: * On June 27, 2013, BioVersys announced that it has successfully closed a Series A financing round with significant contribution from new investors. As was the case with the Seed financing round back in 2011, the Series A financing round was met with strong interest from various parties and reached an undisclosed but oversubscribed amount.
Therapeutic area: Infectious diseases
