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Polyphor announces $3 Million Award from Cystic Fibrosis Foundation Therapeutics to advance the clinical development of POL6014

Allschwil, Switzerland, March 23, 2016. Polyphor Ltd today announced an agreement with Cystic Fibrosis Foundation Therapeutics Inc. (CFFT), Bethesda, Md., to advance the clinical development of the inhaled elastase inhibitor POL6014 in cystic fibrosis (CF). POL6014 reduces the activity of elastase, an enzyme that destroys lung tissue when it is produced in excess.

Under the terms of the agreement, Polyphor will be awarded up to $3 million. As announced last year, Polyphor initiated a Phase I study of POL6014 in healthy volunteers using a customized Pari eFlow^(R) aerosol inhaler. A single ascending dose study in the EU is planned to evaluate the safety and tolerability of POL6014 in individuals with CF followed by a 28-day multiple ascending dose study. These studies aim to further assess the drug's safety, as well as the impact on a range of biomarkers and on lung function.

CF is a life-threatening, genetic disease that causes persistent lung inflammation and infections progressively limiting the ability to breathe. By inhibiting excess enzymes that are produced as part of an exaggerated immune response in the CF lung, the aim of the Polyphor program is to stop or slow the damage to lung tissue that gradually makes it more difficult to breathe. Consequently, POL6014, by reducing inflammation, may help to improve the overall quality of life for individuals with CF.

Dr. Michael Altorfer, CEO of Polyphor, commented: "We are delighted and honored that Cystic Fibrosis Foundation Therapeutics has decided to support the development of POL6014, recognizing its unique therapeutic potential. This CFFT award enables us to accelerate the clinical development of POL6014, and we look forward to working with CFFT on the design of our future clinical development path in hope of expeditiously bringing this new drug to people with cystic fibrosis".

About Polyphor Ltd:
Polyphor is a Swiss Pharma company focusing on the discovery and development of macrocycle drugs addressing high unmet medical needs. Macrocycles represent a new drug class complementary to the traditional small molecules and large biopharmaceuticals. Polyphor leverages its unique and proprietary technology platforms to develop its own product portfolio and to pursue licensing and collaboration opportunities with industry partners. The company's lead drug candidates include POL6326, Balixafortide, (Phase II), a CXCR4 antagonist, for stem cell transplantation, tissue repair and combination treatments in oncology; POL7080, Murepavadin, (Phase II), a highly specific antibiotic with a novel mode-of-action to treat Pseudomonas infections; and POL6014 (Phase I), an inhaled inhibitor of neutrophil elastase for the treatment of CF and other lung diseases.

Polyphor is a privately held company with about 100 employees, headquartered in Allschwil, near Basel. For additional information, please visit www.polyphor.com

About Cystic Fibrosis:
Cystic fibrosis (CF) is a life-threatening disease that affects the lungs and digestive system and impacts about 70,000 people worldwide. CF is caused by mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene which results in either no CFTR protein or an abnormal CFTR protein that does not function properly. The presence or absence of this dysfunctional protein causes the body to accumulate excessive levels of unusually thick mucus in the lungs. This excessive sticky mucus in the lungs is a site for infections that can require hospitalization. Respiratory distress in CF - defined as acute difficulty in breathing, infection and/or hospitalization - is most commonly related to lung infections and the resulting inflammation that damages lung tissue. The damage caused by inflammation can be attributed to an overwhelming and dysfunctional response by deregulated neutrophils. Treatment of this lung inflammation is, therefore, thought to be key to improving CF affected individuals' lung health and well-being. For more information on CF, go to www.cff.org.