BioVersys attracts CHF 24.2 million to develop clinical pipeline

BioVersys develops small molecules acting on novel bacterial targets with applications in antimicrobial resistance (AMR) and targeted microbiome modulation. In 2019, 1.27 million deaths were directly attributable to AMR, more than breast cancer, HIV or malaria. These numbers have yet again demonstrated the consequences of the lack of novel AMR solutions and the urgent need to address one of the greatest threats to the healthcare systems of the modern era.

With the company’s award-winning TRIC technology BioVersys can overcome resistance mechanisms, block virulence production and directly affect the pathogenesis of harmful bacteria towards the identification of new treatment options in the antimicrobial and microbiome fields. By this means, BioVersys addresses the high unmet medical need for new treatments against life-threatening resistant bacterial infections and bacteria-exacerbated chronic inflammatory microbiome disorders.

BioVersys’ most advanced research and development programs address nosocomial infections of Acinetobacter baumannii (BV100, Phase II-ready), and tuberculosis (BVL-GSK098, Phase I) in collaboration with GlaxoSmithKline (GSK) and a consortium of the University of Lille.

With the proceeds from the first closing of the Series C round the Base-based company will enter the next growth stage. This first closing was significantly oversubscribed by both existing and new investors from diverse geographies. BioVersys intends to complete the Series C investment round by the end of 2022.

Marc Gitzinger, Chief Executive Officer and founder of BioVersys: “This significant Series C financing enables us to achieve clinical proof of concept data for our clinical assets that will prepare the company for its next growth phase and continued operational excellence.  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.”

(Press release / SK)