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The agreement marks the Fund's first investment in Europe and advances its mission to enable the launch of two to four antimicrobials by 2030.
BOSTON, Jan. 5, 2023 /PRNewswire/ -- The AMR Action Fund, the world's largest public-private partnership investing in biotech companies developing antimicrobials, today announced that it has invested in BioVersys AG, a clinical-stage company with Headquarters in Basel (Switzerland). The deal marks the Fund's first investment in Europe and is an important step towards building an international portfolio of companies developing urgently needed antimicrobials.
"BioVersys is developing targeted antimicrobials against some of the most threatening drug-resistant bacteria in the world today, and we are delighted to welcome the company to our portfolio," said Dr. Martin Heidecker, Chief Investment Officer of the AMR Action Fund. "The candidates in their pipeline have the potential to significantly improve care for patients suffering from intractable infections for which there are few, if any, effective treatments. We look forward to working with the BioVersys team to help bring these therapies to the fore." to the patients."
Drug-resistant bacterial infections were associated with almost 5 million deaths in 2019 and directly killed 1.27 million people, more than HIV or malaria. BioVersys' lead candidate, BV100, is being developed for lung and bloodstream infections caused by carbapenem-resistant Acinetobacter baumannii (CRAB). Recent research published in The Lancet has shown that CRAB infections can kill up to 100,000 people a year. The World Health Organization and the US Centers for Disease Control and Prevention have identified CRAB as one of the highest priority pathogens for which new treatments are needed.
BioVersys' project portfolio also includes BV200, which is being developed for patients with severe hospital-acquired Staphylococcus aureus infections, BV300, a broad-spectrum antibiotic representing a new chemical class known as pyrrolocytokines, and BVL-GSK098, a new small molecule for the treatment of tuberculosis that overcomes resistance to ethionamide.
"BioVersys aspires to influence the many millions of people affected by AMR by addressing some of the most urgent and highly drug-resistant infections. The AMR Action Fund will be a valuable partner as we move our programs toward Phase 2 clinical trials and beyond to that these treatments can reach patients as soon as possible," said Dr. Marc Gitzinger, CEO and founder of BioVersys AG. "It is fortuitous and timely that the AMR Action Fund was created to invest in the most promising companies fighting the AMR crisis, and we are optimistic that the private sector will continue to invest in this critically urgent field of medicine."
The AMR Action Fund joined BioVersys' Series C round, which was significantly oversubscribed by existing and new investors from various geographies.
"With our investment in BioVersys, we continue to fulfill our mission to drive innovation and investment in small biotech companies, which are responsible for the vast majority of antibiotic research and development," said Dr. Henry Skinner, CEO. "While we will continue to invest in promising and innovative antimicrobial companies, it is important that policymakers around the world also take action and address the market failures that impede the development of new antibiotics and threaten patients around the world."
For more information, contact Chris Sweeney: firstname.lastname@example.org.
About: The AMR Action Fund is the world's largest public-private partnership investing in antibiotics, antifungals and other antimicrobial therapies. The Fund will invest approximately $1 billion in clinical-stage biotechnology companies to help bring new antibiotics to market. The concept of the AMR Action Fund was developed by the International Federation of Pharmaceutical Manufacturers Associations and its member biopharmaceutical companies, in collaboration with the World Health Organization, the European Investment Bank and the Wellcome Trust. Investors in the AMR Action Fund include: Almirall; amgen; bayer; Boehringer Ingelheim; Boehringer Ingelheim Foundation; Chugai; Daiichi-Sankyo; Eisai; Eli Lilly and Company; the European Investment Bank (with the support of the European Commission under Horizon 2020, the European Union's research and innovation program 2014-2020); GlaxoSmithKline; Johnson
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