BioVersys AG successfully closes oversubscribed Series A financing round
BioVersys has taken another step to become a leading player in the area of new therapies against antibiotic resistance. Our innovative approach and proprietary technology continue to deliver and convince not only our partners but also existing and new investors”, commented the management team of BioVersys, Dr. Marc Gitzinger (CEO) and Dr. Marcel Tigges (CSO). With the funds raised, BioVersys plans to conclude its preclinical work with its first lead compounds and efficiently move towards a clinical trial application for first tests in man.
BioVersys targets a class of bacterial proteins that control bacterial defense mechanisms thus causing antibiotic resistance. The company identified a novel class of therapeutic compounds called TRICs (Transcription Regulator Inhibitory Compound), which “switch off” bacterial resistance. Co-administration of BioVersys’ proprietary compounds together with an existing antibiotic restores the effectiveness of antibiotics previously rendered ineffective due to resistance. BioVersys already has in vivo proof-of-concept of its TRIC technology by way of identification and characterization of a series of small molecules that specifically overcome drug resistance in tuberculosis bacteria. The new funds will allow the company to move towards the clinic in another area of high unmet medical need, nosocomial (hospital) infections.
“I am very proud that BioVersys has taken yet another step on its way to become a significant player in the field of bacterial resistance. The Series A financing round will allow the expansion of the highly-qualified existing team and the conclusion of the necessary preclinical work before filing for clinical trials in man.” says Dr. Seng Chin Mah, Chairman of the Board of BioVersys.