Spexis has announced a deal with SPRIM Global Investments (SGI) for funding of up to half of Spexis’ costs related to Phase 3 development of ColiFin nebulized colistimethate sodium for the treatment of P. aeruginosa lung infections in patients with cystic fibrosis. Spexis was formed in December 2021 through a merger of Polyphor, which was developing inhaled murepavadin, and Enbiotix, which had licensed the ex-European rights to ColiFin from PARI. According to Spexis, the company is developing the product first for the US market, and the FDA has granted ColiFin orphan drug, Fast Track, and QIDP designations.
The company notes that funding is contingent on negotiations with a CRO to conduct the Phase 3 COPILOT and COPA trials as well as Spexis’ ability to find additional investors to cover the other half of the trial expenses. In December 2021, prior to completion of the merger, Enbiotix announced that it had raised $11 million in a financing led by Vectura for development of both murepavadin and ColiFin. The Cystic Fibrosis Foundation (CFF) also contributed to that financing round.
Spexis Chairman and CEO Jeff Wager commented, “The planned partnership with SGI positions us well to rapidly advance ColiFin into the next stage of development – particularly the imminent initiation of our COPILOT study, expected in the second quarter. This collaboration is expected to provide capitalization through significant clinical milestones in ColiFin’s Phase 3 development. As such, we are grateful for the support from SGI, both as debt funders for our clinical trials, as well as new investors in our fundraising, and are excited to work closely with them as we continue our mission to bring a novel treatment option to improve and extend the lives of cystic fibrosis patients.”
Read the Spexis press release.
