In line with their expanded collaboration to advance the development of alpibectir for the treatment of tuberculosis, GSK has taken an equity stake in BioVersys, joining new and existing investors in the series C extension round. The company raised CHF 12.3 million, bringing the total proceeds in this round to CHF 44.9 million. The funds will fuel the clinical development of BioVersys’ portfolio.
BioVersys is a multi-asset, clinical stage biopharmaceutical company focusing on research and development of novel antibacterial products for serious life-threatening infections caused by multi-drug resistant ("MDR") bacteria. Its lead candidate BV100 is a potential breakthrough hospital antibiotic with a new mode of action targeting Acinetobacter baumannii, the most drug-resistant bacterial pathogen.
Alongside BV100 (Phase 2), BioVersys is developing alpibectir (BVL-GSK098) a small molecule acting through a novel mode of action for the treatment of tuberculosis (TB) in collaboration with global pharma company GlaxoSmithKline (GSK) and a consortium comprising Pasteur Institute Lille and the University of Lille. Alpibectir is currently being evaluated in combination with ethionamide (Eto) in a Phase 2a proof-of-concept study in pulmonary TB patients in South Africa.
GSK and BioVersys have announced the extension of their collaboration beyond the current Phase 2a to develop alpibectir in both TB pulmonary and TB meningitis programs in order to make it available to patients as soon as possible.
As part of the expanded collaboration, GSK will take an equity stake in BioVersys' latest investment round. Adding to further investments from existing and new investors, this extends the Series C financing by CHF 12.3 million, resulting in total proceeds of CHF 44.9 million for the Series C round to date. The additional proceeds will enable the further clinical development of BioVersys’ portfolio which also includes BV100.
Dr. Marc Gitzinger, Chief Executive Officer and founder of BioVersys: "We are very pleased to announce both the expansion of our highly successful strategic collaboration with GSK and our partner’s participation in our latest financing round. Together with GSK, we successfully advanced the development of alpibectir for TB, having recently completed the TRIC-TB public-private partnership program with the delivery of a Phase 2-ready anti-TB molecule. We look forward to further expanding this collaboration with GSK beyond our ongoing Phase 2a evaluation of alpibectir, as we seek to deliver a new treatment regimen for TB, a disease that poses a serious threat to public health worldwide and which is severely underserved by current therapies."
(Press release/RAN)
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