Spexis achieves first CARB-X milestone for its thanatin derivatives program and receives funding of up to USD 1.9 million to initiate lead optimization
Spexis AG / Key word(s): Agreement/Financing
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, March 03rd 2022
Spexis AG (SIX: SPEX) announced today that it has been awarded the second part of its phased funding grant from CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator), the global partnership led by Boston University dedicated to supporting the development of antibacterial products to diagnose, prevent and treat drug-resistant infections. Spexis has received this award based upon the achievement of technical milestones within the previously announced CARB-X collaboration for this program. The award will support the continuation of the "thanatin derivatives program" belonging to Spexis' novel Outer Membrane Protein Targeting Antibiotic (OMPTA) class of antibiotics to potentially treat life-threatening infections caused by difficult-to-treat Gram-negative bacteria.
CARB-X has committed to provide Spexis with initial funding of up to USD 1.9 million to initiate lead optimization. Spexis will be eligible for a potential of up to USD 8.84 million in additional funds to nominate the preclinical candidate if project milestones are met, pending certain conditions.
"We are very pleased to have met the program objectives required to receive this important milestone grant, which allows us to take this program to the next phase of development together with our colleagues at CARB-X. This program targets Enterobacteriaceae, one of the most common families of life-threatening Gram-negative pathogens, including extremely drug resistant strains, and which are among the WHO priority-1 pathogens," said Jeff Wager, M.D., Chief Executive Officer of Spexis. "This award will ensure timely continuation of this important program, and we are grateful to CARB-X for their ongoing support and partnership."
The thanatin-derivative antibiotics discovered by Spexis and the University of Zurich are part of Spexis' new Outer Membrane Protein Targeting Antibiotic (OMPTA) class of antibiotics and target the lipopolysaccharide (LPS) transport protein A (LptA), a novel essential target in the LPS transport mechanism of Gram-negative bacteria.
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File: Spexis achieves first CARB-X milestone for its thanatin derivatives program
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