Polyphor mulls future after PhIII cancer program crashes
In 2018, Polyphor raised an $165 million IPO — a princely sum at the time — largely on the strength of two programs: a new type of antibiotic with promise against drug-resistant bacteria and an immune-modulating molecule for breast cancer.
Three years later, those two programs are no more and Polyphor is mulling its future. The Swiss biotech announced Monday that its cancer treatment, balixafortide, failed in a Phase III trial for HER2-negative breast cancer. On the two key endpoints, response rate and clinical benefit, standard-of-care actually outperformed Polyphor’s drug.
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