PhD | Business Development Senior Manager BaseLaunch
Tel. +41 61 295 50 17stephan. emmerth@baselaunch. ch
The pharmaceutical company Polyphor has secured CHF 40 million in a private financing round, with the money coming overwhelmingly from existing investors.
Polyphor intends to use the proceeds to finance its pharma business unit, in particular the pivotal registration programme of the antibiotic Murepavadin. As Polyphor wrote in a statement, this drug is used to treat Pseudomonas aeruginosa, a resistant pathogen that is responsible for common hospital-acquired infections.
The proceeds will also be used to finance completion of the preclinical development of Polyphor’s antibiotic platform to progress candidates into the clinical stage.
98 per cent of the financing in the latest financing round came from existing investors. Polyphor received CHF 10 million and can call on the remaining CHF 30 million in the second half of the year after successful completion of a Phase II meeting for Murepavadin with the US Food and Drug Administration (FDA).
CEO Giacomo Di Nepi called the support from the investing “an important sign of trust” that will allow the company to develop innovative medicines to fight antibiotic resistance.