Polyphor plans IPO on SIX Swiss Exchange before summer

Polyphor is based in Allschwil, has a strong research pipeline. Its lead antibiotics product candidate murepavadin (POL7080) recently entered Phase III clinical development and its immuno-oncology compound balixafortide (POL6326) has received a positive review from the FDA during an end of Phase I meeting, allowing it to potentially reach the US market with one pivotal study. POL6014, a drug for the treatment of respiratory diseases, has recently been out-licensed to Santhera. Polyphor aims to become a sustainable biopharmaceutical company focused on innovative antibiotics and other specialty pharma products, bringing first-in-class or best-in-class new medicines to patients.
Polyphor has a diverse Swiss and international investor base including Ingro Finanz, Varuma, Rosetta Capital and BioMed Partners.

Giacomo Di Nepi, Chief Executive Office of Polyphor, said: “Resistance to antibiotics is a growing healthcare crisis. If allowed to carry on at its current pace, it is estimated antimicrobial resistance would lead to 10 million people dying every year by 2050. In murepavadin, we have brought to late stage development the first in a new class of antibiotics which we believe has the potential to be highly effective and against which pathogens may only slowly build resistance. In addition, our immuno-oncology candidate, balixafortide, could benefit certain women suffering from advanced metastatic breast cancer and potentially reach the US market with only one pivotal study. “The planned IPO will allow us to continue the development of murepavadin to treat Pseudomonas aeruginosa, the second leading cause of nosocomial pneumonia, which has mortality rates of approximately 30% - 40%, and progress the development of balixafortide and of further innovative antibiotics.”

Polyphor Highlights

• Polyphor has discovered and developed potentially the first new class of antibiotics in Phase III clinical development against Gram-negative bacteria in 50 years
• Lead product candidate, murepavadin, now in Phase III, has the potential to lead to a paradigm shift in the fight against Pseudomonas aeruginosa - one of the most dangerous Gram-negative bacteria
• Murepavadin could potentially address an overall market opportunity in the range of USD 2-3 billion in nosocomial pneumonia. Further potential could be achieved through the development of an inhaled formulation
• Immuno-oncology compound balixafortide, developed by Polyphor, has shown strong results in a Phase 1b/clinical proof of concept trial in advanced metastatic breast cancer in combination with eribulin
• Development path identified with the FDA to conduct a single pivotal study for approval in HER-2 negative metastatic breast cancer patients who previously received at least two chemotherapeutic regimens. In addition, potential to achieve an accelerated conditional approval based on interim results
• Further upside from the development of additional innovative antibiotics and potential future revenues from out-licensed product candidate POL6014 for the treatment of cystic fibrosis patients

(Press release / SK)