Polyphor raises CHF40M in private placement

Antibiotic company Polyphor Ltd. (Allschwil, Switzerland) said it received CHF10 million ($9.9 million) of a tranched CHF40 million ($39.6 million) private placement. It is eligible to receive the balance next half, following an end-of-Phase II meeting with FDA concerning murepavadin (POL7080) to treat ventilator-acquired and hospital-acquired nosocomial pneumonia caused by Pseudomonas aeruginosa.

The company said existing investors including Varuma AG and Ingro Finanz AG contributed 98% of the new funding. Polyphor plans to conduct a registrational program for murepavadin, a synthetic cyclo-peptide antibiotic targeting the Pseudomonas LPS-assembly protein (OstA; LptD; Imp)...