POLYPHOR AG Spexis announces USD $2.5 million capital commitment to support the upcoming Phase 3 ColiFin® studies
Transparency directive : regulatory news
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Spexis AG / Key word(s): Financing
Spexis announces USD $2.5 million capital commitment to support the upcoming Phase 3 ColiFin® studies Ad hoc announcement pursuant to Art. 53 LR Allschwil, Switzerland, August 15, 2023 Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on macrocycle therapeutics for rare diseases and oncology, today announced a capital commitment totaling USD $2.5 million with participation from SPRIM Global Investments (SGI) and institutional investors to fund the upcoming Phase 3 ColiFin® studies, beginning with the COPILOT study which is expected to initiate in the third quarter of 2023. The USD $2.5 million capital commitment will be in the form of USD $1.0 million in secured, interest-bearing debt with partial warrant coverage from SGI and USD $1.5 million subordinated debt mandatorily converting into equity from institutional investors. “This additional commitment from SPRIM demonstrates their continued support for the clinical development of ColiFin®, our inhaled macrocycle therapeutic for the management of chronic infections in cystic fibrosis patients” said Jeff Wager, M.D., Chairman & CEO of Spexis. “This new capital allows us to not only initiate the COPILOT study in the third quarter, but will also allow for continued progress across start-up activities for COPA, the second part of our planned pivotal efficacy and safety Phase 3 study.” About Spexis Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in Allschwil, Switzerland, focused on macrocycle therapeutics for rare diseases and oncology. For further information please visit: www.spexisbio.com.
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Disclaimer This press release contains forward-looking statements which are based on current assumptions and forecasts of Spexis management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Spexis’ results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Spexis disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.
End of Inside Information |
| Language: | English |
| Company: | Spexis AG |
| Hegenheimermattweg 125 | |
| 4123 Allschwil | |
| Switzerland | |
| Phone: | +41 61 567 1600 |
| Fax: | +41 61 567 1601 |
| E-mail: | info@spexisbio.com |
| Internet: | www.spexisbio.com |
| ISIN: | CH0106213793 |
| Valor: | SPEX |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1703411 |
| End of Announcement | EQS News Service |
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1703411 15-Aug-2023 CET/CEST