BioVersys gets up to USD 15.34 million CARB-X grant to further develop pyrrolocytosines, a novel class of broad-spectrum antibiotics
01.06.2021
TOP 100 Swiss Startup Bioversys receives a second CARB-X award of up to USD 15.34 million for its BV300. CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator), led by Boston University, is a global non-profit partnership dedicated to supporting the early development of antibacterial R&D to address the rising threat of drug-resistant bacteria. We interviewed Marc Gitzinger, CEO of Bioversys, to know more about the use of this grant.
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BioVersys AG, a privately owned clinical-stage, multi-asset Swiss pharmaceutical company focusing on research and development of small molecules for multidrug-resistant bacterial infections with applications in antimicrobial resistance (AMR) and targeted microbiome modulation, announced today, USD 4.35 million in non-dilutive funding from CARB-X, with the possibility of USD 10.98 million more if certain project milestones are met. This second award for a BioVersys project will support the research and development of a novel class of pyrrolocytosine antibiotics. The pyrrolocytosines (BV300) represent a novel chemical class of small molecules inhibiting the bacterial ribosome, a validated antibacterial target, but on a yet unexploited binding site. These molecules exhibit a robust coverage of all relevant ESKAPE pathogens (E. faecium, S. aureus, K. pneumoniae, A. baumannii, P. aeruginosa and Enterobacter species), urgent and serious threats on the US Centers for Disease Control and Prevention (CDC) and World Health Organization (WHO) priority list, and of biothreat pathogens. BioVersys will deploy the funds for a focused Lead Optimization campaign to successfully develop this highly promising compound class for difficult to treat severe infections, including pneumonia.
Marc, how will the USD15.34 million grant help achieve your vision?
BioVersys features a rich and diversified pipeline of product candidates addressing the high unmet medical need of antimicrobial resistance. The recently awarded grant of up to USD 15.34 million is crucial in supporting the breadth of our pipeline and allowing BioVersys to speed up its growth potential. BioVersys has now leveraged >30 million in grant funding from different highly respected funding organizations in Europe and the USA. This is a great testament to the quality of our product candidates and underlines how important the development of novel antibiotics is, in order to prevent a future bacterial pandemic.
You won Venture Kick in 2008. How did it help you lay the foundation for your growth and today's achievement?
Venture Kick was the very first venture competition we ever won. To this date, it laid the foundation to start the business.
You also participated in Venture Leaders Technology in 2008, Venture Leaders China in 2016, and were selected on the TOP 100 Swiss Startups Awards from 2011 to 2013. How did it leverage your fundraising strategy?
The Venture Leaders programs are amazing to learn, connect with fellow entrepreneurs, and make crucial contacts to advance your business. The TOP 100 award adds incredibly to a company’s visibility and it is an honor to be listed amongst so many fellow entrepreneurs, together creating the companies, products, and jobs of the future.
When, and what, was your inspiration to found Bioversys?
The basis for BioVersys was created during my time at ETH Zurich. We really got the company off the ground in 2010. The inspiration from the beginning was to develop a medicine that eventually saves patient lives. We’re now getting close to making that dream a reality.
What is your advice for the potential biotech entrepreneurs launching companies in Switzerland today?
Despite the long and risky development timelines combined with the high capital need in biotech, get in there, enjoy the ride and make sure Switzerland remains amongst the top global biotech and pharma innovators. Always listen to advice and surround yourself with experienced people that believe in your technology.
Marc, how will the USD15.34 million grant help achieve your vision?BioVersys features a rich and diversified pipeline of product candidates addressing the high unmet medical need of antimicrobial resistance. The recently awarded grant of up to USD 15.34 million is crucial in supporting the breadth of our pipeline and allowing BioVersys to speed up its growth potential. BioVersys has now leveraged >30 million in grant funding from different highly respected funding organizations in Europe and the USA. This is a great testament to the quality of our product candidates and underlines how important the development of novel antibiotics is, in order to prevent a future bacterial pandemic.
You won Venture Kick in 2008. How did it help you lay the foundation for your growth and today's achievement?
Venture Kick was the very first venture competition we ever won. To this date, it laid the foundation to start the business.
You also participated in Venture Leaders Technology in 2008, Venture Leaders China in 2016, and were selected on the TOP 100 Swiss Startups Awards from 2011 to 2013. How did it leverage your fundraising strategy?
The Venture Leaders programs are amazing to learn, connect with fellow entrepreneurs, and make crucial contacts to advance your business. The TOP 100 award adds incredibly to a company’s visibility and it is an honor to be listed amongst so many fellow entrepreneurs, together creating the companies, products, and jobs of the future.
When, and what, was your inspiration to found Bioversys?
The basis for BioVersys was created during my time at ETH Zurich. We really got the company off the ground in 2010. The inspiration from the beginning was to develop a medicine that eventually saves patient lives. We’re now getting close to making that dream a reality.
What is your advice for the potential biotech entrepreneurs launching companies in Switzerland today?
Despite the long and risky development timelines combined with the high capital need in biotech, get in there, enjoy the ride and make sure Switzerland remains amongst the top global biotech and pharma innovators. Always listen to advice and surround yourself with experienced people that believe in your technology.