EIB supports BioVersys' development of new antibiotics
The European Investment Bank has signed a €20 million venture debt transaction with BioVersys, a Swiss-based clinical-stage pharmaceutical company developing treatments for multidrug-resistant bacterial infections.
The financing supports the company’s research and development of a diverse pipeline of drugs that address antimicrobial resistance. BV100, BioVersys’ breakthrough hospital antibiotic therapy, targets one of the World Health Organization’s top priority pathogens, resistant Acinetobacter baumannii. The drug is being studied for the treatment of ventilator-associated bacterial pneumonia, which is common in COVID-19 patients. Currently, there are little to no effective and safe treatment options for this infection.
BioVersys will receive the EIB loan in three tranches upon the completion of pre-defined milestones. The transaction is backed by the Infectious Diseases Finance Facility.
