Investors top up capital of BioVersys
BioVersys has raised 24.2 million Swiss francs in a series C funding round. The Basel-based pharmaceutical company plans to use this to develop a clinical pipeline of innovative therapies to combat antibiotic resistance and for targeted microbiome modulation.
BioVersys has received 24.2 million Swiss francs from investors in a series C funding round. According to an announcement from the pharmaceutical company, it will use the funds to start the first phase II clinical trials for two drug candidates as well as preclinical development of a third active substance. BioVersys focuses on the research and development of therapies to combat life-threatening, multidrug-resistant (MDR) bacterial infections (caused by antimicrobial resistance; AMR) and targeted modulation of the microbiome.
The Basel-based company is developing a new, award-winning class of therapeutic agents called TRICs (transcriptional regulator inhibiting compounds). These drugs are able to simply eliminate bacterial resistance. Administering this proprietary invention from BioVersys together with existing antibiotics restores the efficacy of these antibiotics.
Preventing future pandemics
BioVersys’ CEO Dr. Marc Gitzinger comments: “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.”
Chairman of the Board Dr. Seng Chin Mah views the area of antibiotic resistance as “an attractive investment opportunity for strategic investors who are looking to impact global healthcare by preventing future pandemics, ensuring availability of pandemic-relevant drugs and participating in the upside potential of a changing regulatory and market environment.” He adds that BioVersys is “clearly one of the most compelling players” in this regard.
Share this article
You may also be interested in
Evolva launches new line for manufacturers of personal care products
Evolva, a manufacturer of active ingredients based in Reinach in the canton of Basel-Landschaft, will be presenting its new product...Read More
Record figure for startups in the Basel Area
Basel Area Business & Innovation has supported a record number of 96 company startups in 2022. The number of settlements...Read More
Noema Pharma raises 103 million Swiss francs from investors
Noema Pharma has raised a total of 103 million Swiss francs as part of an oversubscribed Series B financing round....Read More
Why CDMO companies choose the Basel Area as their location
Originally, this article was published by the US magazine Outsourced Pharma under the title "Why Location Matters". The article highlights...Read More
Basel still the most attractive small city for business in Europe
As with last year, Basel once again features among the most attractive locations in Europe for investments. It was ranked...Read More
Ariceum Therapeutics establishes subsidiary in Basel
The German life sciences firm Ariceum Therapeutics has established a subsidiary in Basel. This company has received support from Basel...Read More