ZURICH (Reuters) - Swiss biopharma company BioVersys said on Tuesday it plans to list on the Swiss stock exchange in the first quarter with an initial public offering that aims to raise around 80
Swiss biopharma firm BioVersys plans IPO in first quarter
ZURICH (Reuters) - Swiss biopharma company BioVersys said on Tuesday it plans to list on the Swiss stock exchange in the first quarter with an initial public offering that aims to raise around 80 million Swiss francs ($88 million).
The Basel-based company, whose existing shareholders include Britain's GSK, is focused on research and development of antibacterial products.
Proceeds from the IPO will be used to advance the firm's BV100 drug through phase 3 testing, with the goal of filing with major regulatory agencies at the end of 2027, and to help finance the firm from 2025 into 2028, BioVersys said.
Proceeds are also expected to support phase 2 development of BioVersys' alpibectir drug for treating tuberculosis.
The IPO is supported by GSK and other shareholders including the AMR Action Fund, BioVersys said in a statement.
($1 = 0.9082 Swiss francs)
(Reporting by Oliver Hirt; Writing by Dave Graham; Editing by Kirsti Knolle)
