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.”
For further information please contact:
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