First milestone payment received by Polyphor ahead of schedule

Polyphor has been awarded with its first milestone payment from the Wellcome Trust ahead of schedule for the development of novel antibiotics against Gram-negative multidrug-resistant pathogens.

The first milestone payment of 0.6 mCHF has been awarded based on the progress in the discovery and early development of novel broad-spectrum, outer membrane protein targeting Gram-negative antibiotics (OMPTA). Polyphor’s lead candidates have shown good in vitro and in vivo activity against multiple Gram-negative pathogens, including multidrug-resistant strains.

“Reaching this milestone in our collaboration with the Wellcome Trust is a major step in our joint efforts to develop alternative treatments for serious and life-threatening infections,” said Daniel Obrecht, CSO of Polyphor. “This milestone is yet another validation of our breakthrough antibiotic research which already resulted in Murepavadin, a precision antibiotic for Pseudomonas aeruginosa, now entering Phase III studies. We are grateful that the Wellcome Trust supports our programme to advance drug candidates to the clinic expeditiously.”

This recent payment comes under a Seeding Drug Discovery Award granted from the Wellcome Trust in February 2017, which totals 2.3 mCHF. Polyphor had received an upfront payment from this award of 0.7 mCHF.