Polyphor awarded grant from CARB-X of up to $5.6M to support development of novel antibiotic against multi-drug resistant Gram-negative pathogens

Polyphor AG / Key word(s): Financing

04-Feb-2019 / 18:00 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 KR

The issuer is solely responsible for the content of this announcement.


Polyphor awarded grant from CARB-X of up to $5.6M to support development of novel antibiotic against multi-drug resistant Gram-negative pathogens
 

CARB-X to fund the preclinical development and Phase I clinical trial of a novel OMPTA candidate.
 

Polyphor today announced that it has been awarded a non-dilutive award from CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator) to support the development of a novel OMPTA (Outer Membrane Protein Targeting Antibiotics) candidate addressing the deadliest and most resistant Gram-negative bacterial pathogens, including those designated as a critical concern by the World Health Organization (WHO).

CARB-X provides Polyphor with initial funding of up to $2.6 million and up to $3.0 million more if certain project milestones are met. The CARB-X award will support the preclinical and early clinical development of Polyphor’s novel OMPTA candidate, until the completion of the Phase I clinical trial.

The novel Polyphor OMPTA antibiotics target the highest priority Gram-negative ESKAPE pathogens, (Klebsiella pneumoniae, Acinetobacter baumannii, Pseudomonas aeruginosa and Enterobacter spp) which are the leading cause of severe and often deadly infections throughout the world, such as bloodstream infections and pneumonia. Importantly, this new class of antibiotics is active against strains which have become resistant to most – and in some cases all – commonly used antibiotics including the “last resort” antibiotic colistin.

Giacomo Di Nepi, Chief Executive Officer of Polyphor, said: “We are delighted to be partnering with CARB-X, which provides further support to our research efforts in finding new solutions against resistant Gram-negative bacteria. This is another important endorsement of the OMPTA program, following the grant by Wellcome Trust in 2016-2018 and the funding by Novo Holding A/S in September 2018. CARB-X supports the best science and most promising early development R&D projects in the world to prevent and treat life-threatening bacterial infections and we are honored to have been selected in a highly competitive evaluation process.”

About Polyphor
Polyphor is a clinical stage, Swiss biopharmaceutical company which has discovered and is developing the OMPTA (Outer Membrane Protein Targeting Antibiotics). The OMPTA are potentially the first new class of antibiotics against Gram-negative bacteria to have reached phase III stage in the last 50 years. The company’s lead product, murepavadin, (POL7080) is in Phase III development against Pseudomonas aeruginosa – recognized as a critical priority 1 pathogen by WHO. Polyphor is also developing an immuno-oncology candidate, balixafortide (POL6326), which is in preparation for a pivotal trial program in combination with eribulin in patients with advanced breast cancer, and a pipeline of further preclinical antibiotics based on its OMPTA platform. Polyphor is based in Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN). For more information, please visit www.polyphor.com.

About CARB-X
CARB-X is a Boston University global partnership dedicated to accelerating early development antibacterial R&D to address the rising global threat of drug-resistant bacteria. CARB-X funding is provided by US Department of Health and Human Services Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response (ASPR), the Wellcome Trust, a global charity based in the UK working to improve health globally, the UK Department of Health and Social Care’s Global Antimicrobial Resistance Innovation Fund (UK GAMRIF), the Bill & Melinda Gates Foundation, with in-kind support from National Institute of Allergy and Infectious Diseases (NIAID), part of the US National Institutes of Health (NIH). A non-profit partnership, CARB-X is investing up to $500 million from 2016-2021 to support innovative antibiotics and other therapeutics, vaccines, rapid diagnostics and devices. CARB-X supports the world’s largest and most innovative pipeline of preclinical products against drug-resistant infections. CARB-X focuses exclusively on high priority drug-resistant bacteria, especially Gram-negatives. CARB-X is based at Boston University School of Law. https://carb-x.org/. Follow us on Twitter @CARB_X.

For further information please contact:

For Investors:

Kalina Scott
Chief Financial Officer
Polyphor Ltd.
Tel: +41 61 567 16 67
Email: IR@polyphor.com

For Media:

Alexandre Müller
Dynamics Group AG
Tel: +41 43 268 32 31
Email: amu@dynamicsgroup.ch

Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=LLDEJCEHES
Document title: Polyphor_CARBX_4.2.2019


End of ad hoc announcement


Language: English
Company: Polyphor AG
Hegenheimermattweg 125
4123 Allschwil
Switzerland
Phone: +41 61 567 1600
Fax: +41 61 567 1601
E-mail: info@polyphor.com
Internet: www.polyphor.com
ISIN: CH0106213793
Listed: SIX Swiss Exchange

 
End of Announcement EQS Group News Service

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