Spexis receives capital commitment of 2.5 million US dollars
Investors have made an additional capital commitment to Spexis AG, based in the Basel Area. With an extra 2.5 million US dollars at its disposal, the biopharmaceutical firm plans to finance a Phase 3 study for its inhaled therapeutic to treat chronic infections in cystic fibrosis patients.
The biopharmaceutical company Spexis, based in Allschwil in the canton of Basel-Landschaft, has announced that it has received a capital commitment totaling 2.5 million US dollars. According to a press release, both SPRIM Global Investments and institutional investors were involved in the process. With this, funding for the upcoming Phase 3 study in ColiFin, an inhaled macrocycle therapeutic for the management of chronic infections in cystic fibrosis patients, has now been secured.
“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”, as Jeff Wager, Chairman and CEO of Spexis, explains in the press release. In Europe, the drug has been approved as a first-line therapy for lung infections since 2010. Approval is now being sought for the US market.
Spexis emerged from Polyphor
In April of this year, Spexis already secured fresh capital in the amount of 4.5 million US dollars from SPRIM Global Investments, which will enable the company to start its Phase 3 COPILOT study, the first of two planned ColiFin studies, as Spexis explains in a press release.
Spexis was formed out of the Allschwil-based biotech company Polyphor, with the change of name at the beginning of 2022 coming as a consequence of the acquisition of Polyphor by the biotech company Enbiotix, which is based in Cambridge, Massachusetts. Since this time, Enbiotix has held a stake of 75 percent in Spexis. The most promising drug candidate in the pipeline, ColiFin, comes from Enbiotix.