BASEL, Switzerland, Sept. 11, 2024 (GLOBE NEWSWIRE) —
- GIBF2 to invest US$ 6m in BioVersys
- BV100 Phase 1 study in China expected to start in 1H 2025 in preparation for a global Phase 3 registrational study
BioVersys AG, a multi-asset, clinical stage biopharmaceutical company focusing on research and development of novel antibacterial products for serious life-threatening infections caused by multi-drug resistant (“MDR”) bacteria, announced today the strategic investment by investment firm Guangzhou Sino-Israel Bio-Industry Investment Fund 2 LLP (GIBF) of US$ 6m (approximately CHF 5.17m).
The investment aligns with BioVersys’ strategic decision to expand the clinical development of its lead asset BV100 in China, to address a large unmet medical need affecting a very large patient population and offering a significant market opportunity. Infections by Carbapenem-Resistant Acinetobacter baumannii (CRAB) have become a major issue in China, with an increase in the resistance rate from 32-41% in 2005 to over 75% in 2018, associated with high mortality rates in ICUs. GIBF’s support for clinical trials and its extensive network in China are expected to facilitate and accelerate the clinical development of BV100.
Onboarding China to BioVersys’ planned global Phase 3 clinical trial first requires a small Phase 1 study in healthy volunteers to confirm the safety and pharmacokinetic profile of BV100 in the Chinese population. This Phase 1 is on track to be initiated by early 2025 and will be followed by the onboarding of Chinese patients into the planned global Phase 3 registrational study.
Dr. Marc Gitzinger, Chief Executive Officer and founder of BioVersys: “We are very pleased to announce this new strategic partnership with the highly regarded investment firm GIBF, which will serve to further expedite the clinical development of our lead asset BV100 in China. We have long recognized the huge potential of the market there, and with BV100 having already demonstrated significant potential to become an essential anti-infective treatment, we look forward to getting our clinical evaluation in China underway and to bringing BV100 to patients in need as soon as possible both in China and other markets.”
Dr. Shuki Gleitman, Founding Partner and Chairman of the Guangzhou-Israel Biotechnology Fund: “GIBF’s core focus on healthcare has allowed the firm to raise US$ 400 million since its creation in 2016 and to invest in projects which we believe will make a significant impact on the Chinese healthcare system. Resistance to antibiotics has become a leading cause of death and BV100 has started generating impressive clinical data, which we believe will make it a key asset in the treatment armamentarium of hospitals in China and around the world. We look forward to supporting BioVersys in its efforts to develop innovative anti-infective treatments in China.”
Full PR available here