Polyphor announces listing of new shares related to the convertible loan facility agreement with the Wellcome Trust
Polyphor today announced that 15'758 new registered shares issued from the authorized capital have been listed today on SIX Swiss Exchange. In April 2018 Polyphor and the Wellcome Trust entered into an amendment agreement to the convertible loan facility agreement made available to Polyphor by the Wellcome Trust. In this amendment agreement the Wellcome Trust exercised its right to convert the outstanding loan amount in full immediately prior to the completion of the listing of Polyphor's shares. These shares have a lock-up period ending one year after the first day of trading.
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Chief Financial Officer
Tel: +41 61 567 16 67
Polyphor is a clinical stage, Swiss biopharmaceutical company which has discovered and is developing the OMPTA (Outer Membrane Protein Targeting Antibiotics). The OMPTA are potentially the first new class of antibiotics against Gram-negative bacteria to have reached phase III stage in the last 50 years. The company's lead product, murepavadin, (POL7080) is in Phase III development against Pseudomonas aeruginosa - recognized as a critical priority 1 pathogen by WHO. Polyphor is also developing an immuno-oncology candidate, balixafortide (POL6326), which has achieved clinical proof of concept in a Phase Ib/proof of concept study in combination with eribulin in patients with advanced breast cancer, and a pipeline of further preclinical antibiotics based on its OMPTA platform. Polyphor is based in Allschwil near Basel and is listed on the Swiss Stock Exchange (SIX: POLN). For more information, please visit www.polyphor.com.