Announces Expansion of Strategic Collaboration with GSK and Extension of its Series C Round by CHF 12.3 Million
Summary
The compound represents a totally new concept of overcoming resistance and significantly potentiating the activity of an existing antibiotic, ethionamide (Eto).GSK and BioVersys will continue their collaboration beyond the current Phase 2a and develop alpibectir in both TB pulmonary and TB meningitis programs in order to make alpibectir available to patients as soon as possible.As part of the expanded collaboration, GSK will take an equity stake in BioVersys latest investment round. The additional proceeds will enable the further clinical development of BioVersys portfolio which also includes BV100, a potential breakthrough hospital antibiotic with a new mode of action targeting Acinetobacter baumannii, the most drug-resistant bacterial pathogen.Dr. Marc Gitzinger, Chief Executive Officer and founder of BioVersys: We are very pleased to announce both the expansion of our highly successful strategic collaboration with GSK and our partners participation in our latest financing round. For further information please visit https://www.gsk.com/en-gb/about-us/BioVersys AG is a multi-asset, clinical stage biopharmaceutical company focused on identifying, developing and commercializing novel antibacterial products for serious life-threatening infections caused by multi-drug resistant (MDR) bacteria. Derived from the companys two internal technology platforms (TRIC and Ansamycin Chemistry), candidates are designed and developed to 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.