Bioversys Secures GIBF2 Investment and Starts BV100 Trials in China

BioVersys AG, a clinical-stage biopharmaceutical company, has announced a significant investment from Guangzhou Sino-Israel Bio-Industry Investment Fund 2 LLP (GIBF) amounting to USD 6 million. This strategic investment is aimed at expanding the clinical development of BioVersys' leading product, BV100, in China. The primary focus of BioVersys is on developing novel antibacterial products to treat life-threatening infections caused by multi-drug resistant (MDR) bacteria.

GIBF's investment aligns with BioVersys' strategic decision to address a substantial unmet medical need in China. Infections caused by Carbapenem-Resistant Acinetobacter baumannii (CRAB) are a major health issue in the country, with resistance rates having increased dramatically from 32-41% in 2005 to over 75% in 2018. These infections are associated with high mortality rates in intensive care units. The support from GIBF, along with its extensive network in China, is expected to facilitate and accelerate the clinical development of BV100.

The initial step in incorporating China into BioVersys' global Phase 3 clinical trial involves conducting a Phase 1 study in healthy volunteers. This study is set to begin in early 2025 and aims to confirm the safety and pharmacokinetic profile of BV100 in the Chinese population. Following this, Chinese patients will be included in the planned global Phase 3 registrational study.

Dr. Marc Gitzinger, CEO and founder of BioVersys, expressed his enthusiasm about the new strategic partnership with GIBF. He highlighted the substantial potential of the Chinese market and the significant progress BV100 has already demonstrated as a crucial anti-infective treatment. He looks forward to the clinical evaluation in China and aims to bring BV100 to patients in need both in China and globally as soon as possible.

Dr. Shuki Gleitman, Founding Partner and Chairman of the Guangzhou-Israel Biotechnology Fund, emphasized GIBF's strong focus on healthcare. Since its inception in 2016, GIBF has raised USD 400 million to invest in projects that are expected to have a significant impact on the Chinese healthcare system. Dr. Gleitman underlined the growing issue of antibiotic resistance as a leading cause of death and the impressive clinical data generated by BV100. He believes BV100 will become a key asset in hospital treatment regimens in China and worldwide. GIBF is eager to support BioVersys in its efforts to develop innovative anti-infective treatments in China.

Guangzhou-Israel Biotechnology Fund (GIBF) boasts years of expertise in life sciences, private equity investment, and local knowledge in China. It serves as a strategic investor and partner, with a proven track record in supporting multi-center clinical trials in top-tier Chinese hospitals. GIBF provides resources and networks to secure successful submissions to the National Medical Products Administration (NMPA), commercialize products, and develop manufacturing capacities to meet both local and global demand.

BioVersys AG, located in Basel, Switzerland, focuses on discovering, developing, and commercializing new antibacterial products for severe infections caused by MDR bacteria. Using its internal technology platforms, TRIC and Ansamycin Chemistry, the company develops candidates designed to overcome resistance mechanisms and target harmful bacteria. BioVersys' most advanced programs include treating nosocomial infections of Acinetobacter baumannii (BV100, Phase 2) and tackling tuberculosis (alpibectir, Phase 2a) in collaboration with GlaxoSmithKline (GSK) and a consortium from the University of Lille, France.