Spexis announces closing of capital commitment of USD 4.5 million from SPRIM Global Investments (SGI) to enable initiation of ColiFin® Phase 3 study
ALLSCHWIL, Switzerland, April 18, 2023 (GLOBE NEWSWIRE) -- Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on rare diseases and oncology, today announced that the company has finalized a capital commitment from SPRIM Global Investments (SGI) totaling USD 4.5 million in the form of secured, interest-bearing debt with partial warrant coverage and subordinated debt mandatorily converting into equity. Proceeds from the capital commitment will enable the initiation of the Phase 3 COPILOT study, the first part of the registrational clinical studies planned for ColiFin®. The COPILOT study, which will enroll 38 patients and evaluate and confirm the use of once or twice daily dosing for COPA, the second part of the planned pivotal efficacy and safety Phase 3 study of ColiFin®, has study start-up activities ongoing, and is expected to enroll its first patient in June 2023.
- Proceeds from the capital commitment will enable the initiation of the Phase 3 COPILOT study, the first part of the registrational clinical studies planned for ColiFin®.
- The clinical development of ColiFin® is supported by FDA Orphan Drug, Qualified Infectious Disease Product (QIDP) and Fast Track Designations.
- In addition, and as part of an ongoing strategic realignment, two members of Spexis’ executive committee will be transitioning out of the company.
- Stephan Wehselau, currently Chief Operating Officer, will be leaving Spexis by the end of June.