Investors top up capital of BioVersys
BioVersys has raised 24.2 million Swiss francs in a series C funding round. The Basel-based pharmaceutical company plans to use this to develop a clinical pipeline of innovative therapies to combat antibiotic resistance and for targeted microbiome modulation.
BioVersys has received 24.2 million Swiss francs from investors in a series C funding round. According to an announcement from the pharmaceutical company, it will use the funds to start the first phase II clinical trials for two drug candidates as well as preclinical development of a third active substance. BioVersys focuses on the research and development of therapies to combat life-threatening, multidrug-resistant (MDR) bacterial infections (caused by antimicrobial resistance; AMR) and targeted modulation of the microbiome.
The Basel-based company is developing a new, award-winning class of therapeutic agents called TRICs (transcriptional regulator inhibiting compounds). These drugs are able to simply eliminate bacterial resistance. Administering this proprietary invention from BioVersys together with existing antibiotics restores the efficacy of these antibiotics.
Preventing future pandemics
BioVersys’ CEO Dr. Marc Gitzinger comments: “We are grateful to the unwavering commitment of our knowledgeable long-term investors and welcome a number of new investors that understand the need for clinically meaningful solutions to address the burgeoning AMR crisis.”
Chairman of the Board Dr. Seng Chin Mah views the area of antibiotic resistance as “an attractive investment opportunity for strategic investors who are looking to impact global healthcare by preventing future pandemics, ensuring availability of pandemic-relevant drugs and participating in the upside potential of a changing regulatory and market environment.” He adds that BioVersys is “clearly one of the most compelling players” in this regard.