Today, the shares of Polyphor Ltd („POLN“) were traded for the first time on SIX Swiss Exchange, opening at CHF 40.00 per share. This corresponds to a market capitalization of CHF 442 million (before the over-allotment option).
The issued share capital of Polyhor Ltd comprises 11’040’753 registered shares (after related capital increase) with a nominal value of CHF 2.00 per share. The company offered 4’078’950 new shares in the offering. With an issue price of CHF 38.00, the placement volume corresponds to CHF 155 million. The market capitalization (before exercise of the over-allotment option) was CHF 442 million, based on the opening price of CHF 40.00. Furthermore, Polyphor Ltd granted the syndicate banks of the offering an over-allotment option of up to 263’160 new registered shares, which can be exercised within 30 calendar days after the first trading day.
Polyphor Ltd 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 Ltd 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 Ltd is based in Allschwil near Basel.
