PhD | Business Development Senior Manager BaseLaunch
Tel. +41 61 295 50 17stephan. emmerth@baselaunch. ch
The pharmaceutical company Polyphor from the canton of Basel-Landschaft plans to launch on the SIX Swiss Exchange in May. It is targeting gross proceeds of 100 million francs to 150 million francs.
Polyphor expects to launch its initial public offering on the Zurich-based SIX Swiss Exchange on 15 May, announced the company in a statement. The price range for the shares has been set at 30 francs to 40 francs, with target gross proceeds of 100 million francs to 150 million francs.
Current shareholders intend to invest approximately 15 million francs, while management and board members will also make investments, with the shares acquired by them subject to a 12-month lockup, according to the statement.
The funds raised by the public offering would be primarily used for the continued development of Polyphor’s lead phase III product candidate murepavadin. The therapy was developed to treat Pseudomonas aeruginosa – a particularly dangerous hospital infection.
Also approaching approval is the immuno-oncology drug balixafortide, which has already produced encouraging results in a phase Ib trial for advanced metastatic breast cancer in combination with eribulin. The product received “fast track” status from the US Food and Drug Administration FDA a few days ago.