More news about Bioversys

BioVersys AG raises CHF5 million in Series A2 round

22.11.2017 09:15
Labaratory

Biotech startup BioVersys, developing new treatments for life-threatening bacterial infections, announced the successful closing of a Series A2 financing round. A sum of CHF5 million was raised from existing private investors. The funds will be used to prepare for clinical development with BioVersys’ lead project directed at Tuberculosis.

Tuberculosis is a neglected disease that is responsible for over 1.8 million casualties annually and the disease is becoming increasingly drug resistant. New treatment options are urgently needed and BioVersys’ TRIC technology offers a unique opportunity for patients by reversing resistance and strengthening the activity of an established antibiotic for Tuberculosis.

“We would like to thank our investors for their ongoing support,” said. Marc Gitzinger, CEO of BioVersys. A sum of CHF5 million was raised from existing private investors. These included members of the Business Angels Switzerland (BAS) association. The funds will be used to prepare for clinical development with BioVersys’ lead project directed at Tuberculosis and to advance our discovery pipeline directed against antimicrobial resistance

“The safety and efficacy data produced in animal models looks so promising that we can’t wait to bring this new treatment option to patients in need” said Sergio Lociuro, CSO.

BioVersys has two additional pipeline projects directed against the so-called superbugs (highly antibiotic resistant bacteria) benefitting from the same proprietary TRIC technology.

Seng Chin Mah, Chairman of the Board, commented: “The world is facing an impending antibiotic apocalypse as a result of rapidly developing bacterial resistance to all current antibiotics. Unfortunately, many large pharma companies have left the field of antimicrobial research and development. I’m very proud that BioVersys has a technology that has the chance to bring new and innovative products to this area of urgent unmet medical need and that the company has a knowledgeable and supportive investor base”.

About BioVersys AG
BioVersys AG is a Swiss pharmaceutical company focusing on research and development of small molecules which target bacteria by manipulating their metabolic behaviour, thus reversing resistance mechanisms, preventing biofilm formation and reducing virulence. With the company’s award-winning TRIC technology it will be possible to restore the efficacy of established antibiotics and effectively overcome antimicrobial resistance in the future. By this means BioVersys addresses the high medical need for new treatments against life-threatening bacterial infections that emerged in recent years due to the resistance of bacterial strains against existing antibiotics. The current research focus is Nosocomial Infections (hospital infections) and Tuberculosis. In collaboration with GlaxoSmithKline (GSK) and a consortium of the University of Lille BioVersys develops a preclinical candidate against tuberculosis.

Picture: DarkoStojanovic/Pixabay

(Press release)

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