Novo Holdings invested CHF 6.8 million in Polyphor to accelerate the development of new antibiotics against multidrug-resistant Gram-negative pathogens
Allschwil, Switzerland and Copenhagen, September 6, 2018 Denmark
- Novo REPAIR Impact Fund will invest up to CHF 11.5 million in the OMPTA pipeline Polyphor this a stake of CHF 6.8 million and a potential additional investment of CHF 4.7 million against project-based royalties
- 178'947 newly issued registered shares from the authorized capital of Polyphor to CHF 38 per share
Polyphor and Novo Holdings A / S announced today that got Polyphor CHF 6.8 million in new capital from Novo REPAIR Impact Fund to promote the development of novel antibiotics directed against proteins of the outer cell membrane (outer membrane protein targeting Antibiotics - OMPTA). These antibiotics fight the deadliest and most resistant gram - negative bacterial pathogens, including those caused by the World Health Organization (WHO) were classified as critical.
The Novo Holdings A / S is committed to invest 6.8 million in Polyphor via a capital increase CHF, with 178'947 new registered shares of CHF 38.00 per share to be issued from the authorized capital. These shares have a lock-up period until May 15 of 2019.
In addition, the Fund has agreed to make a project-based, royalty-paid investment of CHF 4.7 million in cash if predefined milestones OMPTA program and customary closing conditions are achieved.
This is the first investment of Novo REPAIR Impact Fund, which was established in February 2018 Novo Holdings A / S as an independent business unit of the company. The Novo REPAIR Impact Fund is a USD 165 million fund that focuses on investments in companies and projects to combat antibiotic resistance, particularly as defined by the CDC and WHO priority pathogens.
The new Polyphor OMPTA antibiotics aimed at the most important gram-negative pathogens ESKAPE (Klebsiella pneumoniae, Acinetobacter baumannii, Pseudomonas aeruginosa and Enterobacter spp), which are the leading cause of serious and often fatal infections such as blood infections and pneumonia. It is important that this new class of antibiotics effective against strains that to most - and in some cases against all - commonly used antibiotics, including the "last resort" antibiotic colistin, have become resistant.
Aleks Engel, director of Novo REPAIR Impact Fund, commented: "We are proud that our first investment will accelerate the development of a new therapeutic class that has the potential to save countless lives Antibiotic resistance may 2050 killing more people than. cancer, demonstrating the urgent need for new approaches to the most dangerous resistant bacteria. "
Giacomo Di Nepi, Chief Executive Office of Polyphor, added: "The support of the Novo REPAIR Impact Fund will enable us to accelerate the development of our pre-clinical drugs against resistant Gram-negative bacteria In addition, there is an important confirmation of our efforts. to find new antibiotics to combat drug resistance, which is one of the biggest threats to global health. we are honored that the Novo Repair Impact Fund has selected our OMPTA program as the first investment and we in this context, the Novo Holdings a / S could win as new shareholders. "
For more information:
Chief Financial Officer
Tel: +41 61 567 16 67
Holdings Novo A / S
Christian Mostrup Scheel,
Senior Press Officer,
Tel: +45 3067 4805
Polyphor is a Swiss biopharmaceutical company that has discovered the OMPTA (Outer Membrane Protein targeting Antibiotics) and developed. The OMPTA are potentially the first new class of antibiotics against Gram-negative bacteria for 50 years, which has reached the phase III clinical development. The main product of the company, Murepavadin (POL7080), is in Phase III development against Pseudomonas aeruginosa - recognized by the WHO as a critical causative agent of priority. 1 Polyphor also developed an immune-oncology drug, Balixafortide (POL6326), which is located in preparation for a registration trial in combination with eribulin in patients with advanced breast cancer, as well as a pipeline further pre-clinical antibiotics on the basis of its OMPTA platform. Polyphor is based in Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN) listed. More information www.polyphor.com
About Novo REPAIR Impact Fund
Novo Holdings founded in February 2018 the REPAIR Impact Fund on behalf of Novo Nordisk Foundation to invest in companies that are involved in the discovery and early development of therapies against resistant microorganisms. The aim of the REPAIR Impact Fund is to expand the therapeutic arsenal of mankind in the fight against antibiotic resistance.
REPAIR is an acronym: Replenishing and Enabling the pipeline for Anti-Infective Resistance.