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BioVersys plans to conduct an initial public offering on the SIX Swiss Exchange in the first quarter of 2025.
BioVersys is targeting exclusively primary proceeds of approximately CHF 80 million and will allocate a majority of such proceeds to developing its lead asset BV100.
BioVersys’ two clinical programs address life-threatening antibiotic resistant bacterial infections, focusing on profitable indications within the antibiotic space, in pneumonia, blood stream infections and meningitis.
BioVersys’ two clinical assets are complemented by a pipeline of preclinical products as well as two proprietary technology platforms, the Ansamycin Chemistry platform and the TRIC platform. The fast-follower preclinical projects include BV500, targeting non-tuberculosis mycobacterial lung diseases (NTM-LD), and BV200, addressing Staphylococcus aureus on the skin microbiome for the treatment of atopic dermatitis.
BioVersys conducts its own development as well as in partnership with other renowned thought leaders and organizations. The long-term relationship with GSK and a consortium of the University of Lille, France for the development of alpibectir in tuberculosis is one such example.
BioVersys is targeting proceeds of CHF 80 million. Proceeds from the IPO will be primarily used to advance BioVersys’ lead asset BV100 through Phase 3, aiming at a filing with the major regulatory agencies at the end of 2027, and to finance the Company’s operating expenses and capital expenditure requirements from 2025 into 2028 and the end of the pivotal Phase 3 study for BV100. The Phase 3 clinical trial for BV100 will start in H2 2025. Beyond BV100 proceeds are also expected to support ongoing Phase 2 development of alpibectir.
AMR Action Fund and GSK, both of which are existing shareholders of BioVersys, are supportive of the envisaged IPO. AMR Action Fund and GSK have both expressed an intention to commit further investment in the IPO following on from their past equity investments.
The Offering is expected to be conducted as a public offering in Switzerland and in the form of private placements in a number of jurisdictions, including in the United States, to certain qualified institutional buyers (“QIBs”) in each case as defined in the applicable securities laws and regulations. BioVersys intends to have its shares admitted to trading and listed on the SIX Swiss Exchange in the course of the first quarter of 2025.
The directors of the Company and its executive management committed to a customary lock-up period of 360 days and all existing investors committed to a lock-up period of 180 days.
BioVersys has so far raised around 75 million Swiss francs in equity. In 2024, GSK took a stake in the company as part of a Series C Extension Round and the Guangzhou Sino-Israel Bio-Industry Investment Fund made a strategic investment in the company. BioVersys was founded in 2008 and is based in TechPark Basel.
Dr. Marc Gitzinger, CEO of BioVersys: “The envisaged listing on the Swiss Stock Exchange represents a key milestone for our company since its inception. We plan to use the proceeds to primarily advance BV100 through Phase 3 clinical development and regulatory submission and advance the clinical development for alpibectir with our partner GSK to reach the next critical clinical milestone. The proceeds will also enable the development of our preclinical candidates, BV200 and BV500, as fast followers. These efforts aim to sustain our momentum, maintain a competitive edge, and capitalise on the positive reimbursement developments in the antibiotic field. Delivering new first-in-class and best-in-class medicines to address the dire unmet needs in the AMR sector remains our top priority.”
Source: startupticker.ch (21.01.2025)