EnBiotix, which is in the process of merging with inhaled murepavadin developer Polyphor, announced that it has raised $11 million in a financing round led by inhaled drug CDMO Vectura. Sanford Biosciences and the Cystic Fibrosis Foundation (CFF) also contributed to the financing, which will fund further development of ColiFin nebulized colistimethate sodium in addition to murepavadin. Some of the funds will also go towards expenses related to the merger with Polyphor, which is expected to be complete by the end of 2021.
Vectura and EnBiotix have also agreed to negotiate a possible strategic alliance regarding at least one EnBiotix inhaled drug candidates. Vectura has been the subject of controversy and shunning in the inhaled drug industry since the company announced that it would be acquired by tobacco company Philip Morris.
EnBiotix and Polyphor recently announced the initiation of a Phase 1 trial of murepavadin, which it is developing for the treatment of P. aeruginosa lung infections in cystic fibrosis patients. EnBiotix’s pipeline also includes potentiated inhaled tobramycin for CF infections and inhaled potentiated amikacin for non-tuberculous mycobacteria (NTM) infections in addition to ColiFin for cystic fibrosis, non-CF bronchiectasis, and COPD.
According to the financing announcement, EnBiotix plans to initiate a Phase 3 trial of ColiFin in CF patients in 2022, and the CFF’s investment is intended to fund long-term safety studies alongside that trial. In Europe, PARI‘s ColiFin has been approved since 2010 for the treatment of chronic P. aeruginosa infections in CF patients; EnBiotix has licensed the rights to market ColiFin outside of Europe from PARI.
EnBiotix Chairman and CEO Jeffrey D. Wager said, “It is very motivating for all of us at EnBiotix to secure this financing from such a globally recognized syndicate of life science investors. The proceeds from the financing will significantly accelerate our plans to deliver innovative products to cystic fibrosis and other rare disease patients with significant unmet needs. In addition, we look forward to further discussions with Vectura to negotiate a strategic alliance agreement to further advance our pipeline and accelerate the development and commercialization of our inhaled drug portfolio.”
Read the EnBiotix press release.
