Polyphor parlays a pathogen-specific antibiotic and I/O work into a $165M IPO for its PhIII program
Polyphor has successfully completed an IPO, raising about $165 million to back its Phase III development of a new antibiotic specifically designed to counterattack against Pseudomonas aeruginosa along with an easy-stage shot at immuno-oncology.
The biotech priced an upsized lot of shares at 38 Swiss Francs — or about $38 — for the offering on the Swiss bourse. That makes for a fairly unusual hit, with many European biotechs drawn to try their luck on the freewheeling Nasdaq, where early-stage, high-risk biotechs have pulled off a string of successful raises.
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