BioVersys Gets EIB Funds to Address Antimicrobial Resistance

The European Investment Bank (EIB) and BioVersys AG, a clinical-stage pharmaceutical company developing treatments for multidrug-resistant bacterial infections, signed a €20 million venture debt transaction. The financing supports the company’s research and development of a diverse pipeline of drugs that address antimicrobial resistance (AMR). AMR has resulted in the majority of antimicrobial therapies becoming obsolete, potentially resulting in a bacterial pandemic.

BV100, BioVersys’ breakthrough hospital antibiotic therapy, targets one of the World Health Organization’s (WHO) 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. Due to antibiotic resistance, infections caused by resistant Acinetobacter baumannii have a devastating mortality rate of greater than 50%. Another drug in the BioVersys pipeline is BVL-GSK098, a small molecule which is being tested for multi-drug resistant tuberculosis infections, one of the top ten killers globally, with 1.5 million deaths annually. Both BV100 and BVL-GSK098 are currently undergoing Phase 1 clinical trials.

“There have been no new classes of antibiotics on the market for decades,” said EIB Vice-President Thomas Östros. “This comes at an enormous cost for people and our societies at large. If we do not manage to curb AMR, it will not only kill thousands of people every year, but it will also drive millions into poverty. I am therefore very pleased that the EIB can contribute to the financing of a company that might hold the key to alleviating some of the most pressing health issues we currently face.”