Polyphor closes private financing round

Clinical-stage Swiss speciality pharma company, Polyphor, has announced the completion of a CHF40 million private placement. The majority of the financing (98%) was provided by existing investors.

This funding will be used to finance the pharma business unit, particularly the registration programme of the antibiotic Murepavadin (POL7080) and the proof of concept programme for the elastase inhibitor POL6014. Additionally, the completion of the preclinical development of the company’s antibiotic platform to progress candidates into the clinical stage will be funded by the proceeds.

“The capital increase secures the financing of the pivotal development programme of our lead antibiotic candidate Murepavadin, the advancement of POL6014, and, in general, of our promising pipeline,” said Giacomo Di Nepi, CEO of Polyphor. “The very significant backing of the financing by our existing investors, including the substantial support from anchor investors […] is an important sign of trust and endorsement of the strategy, and allows the implementation of our mission to build value by developing innovative medicines to fight antibiotic resistance and help patients with severe respiratory diseases.”

Under the terms of the transaction, Polyphor will receive CHF10 million immediately and will be able to obtain the remaining CHF30 million in the second half of the year after the successful completion of the clinical end of Phase II meeting for its lead clinical stage antibiotic with the FDA.