BiomX Inc. (NYSE American: PHGE) has finalized its acquisition of Adaptive Phage Therapeutics, Inc. (APT), bolstering its position in phage therapy for bacterial infections. Supported by a $50 million private placement from key investors, BiomX aims to advance its pipeline, with upcoming milestones in cystic fibrosis and diabetic foot osteomyelitis. This strategic move propels BiomX toward addressing critical medical needs.
BiomX Inc. (NYSE American: PHGE), along with its subsidiaries and associates, pioneers groundbreaking advancements in the realm of phage therapy targeting specific pathogenic bacteria. In a significant move, BiomX has recently concluded the acquisition of Adaptive Phage Therapeutics, Inc. (APT), a U.S.-based clinical-stage biotechnology company specializing in phage-based therapies combatting bacterial infections. This strategic acquisition, announced on March 6, 2024, marks a pivotal moment for BiomX as it expands its portfolio and solidifies its position as a leader in the field.
The Acquisition of APT represents a strategic consolidation of expertise and resources in the realm of phage therapy. APT brings to the table a wealth of knowledge and a promising pipeline of therapies aimed at addressing serious infections with unmet medical needs. Notably, the combined entity now boasts an advanced pipeline that includes two Phase 2 assets, each with the potential to make significant strides in treating bacterial infections. Jonathan Solomon, Chief Executive Officer of BiomX, expressed his satisfaction with the acquisition, highlighting its transformative impact on the company’s trajectory.
“We are very pleased to announce the closing of the APT acquisition, which creates a leading phage company and an advanced pipeline that includes two Phase 2 assets each aimed at treating serious infections with unmet medical need,” remarked Jonathan Solomon. “We also appreciate the continued support of leading institutional healthcare investors. Through this financing, we expect to have sufficient capital to reach multiple data readouts in CF and DFO over the next 12-24 months.”
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The successful completion of the acquisition was made possible through a $50 million private placement to select institutional accredited investors. Notable participants in this financing round include affiliates of Deerfield Management Company and the AMR Action Fund, alongside additional investors such as the Cystic Fibrosis Foundation, OrbiMed, and Nantahala Capital. This substantial investment underscores the confidence placed in BiomX’s vision and its potential to revolutionize the treatment landscape for bacterial infections.
RBC Capital Markets and Laidlaw & Company (UK) Ltd. played crucial roles as placement agents for the private placement, facilitating the smooth execution of the transaction. Legal counsel for BiomX was provided by Haynes and Boone, LLP, ensuring adherence to regulatory and legal requirements throughout the acquisition process. Cooley LLP acted as legal counsel to APT, while McDermott Will & Emery LLP represented Deerfield Management, and Wilmer Cutler Pickering Hale and Dorr LLP served as legal counsel to the placement agents.
The completion of the Acquisition and the successful private placement not only signify a significant milestone for BiomX but also pave the way for accelerated progress in the development and commercialization of phage-based therapies. With a strengthened pipeline and the support of key investors, BiomX is well-positioned to advance its mission of addressing critical medical needs through innovative solutions in the realm of phage therapy.
Looking ahead, BiomX is poised to achieve several key milestones in the coming months and years, with multiple data readouts expected in cystic fibrosis (CF) and diabetic foot osteomyelitis (DFO). These anticipated advancements underscore the company’s commitment to translating scientific breakthroughs into tangible benefits for patients worldwide.
In conclusion, BiomX’s acquisition of Adaptive Phage Therapeutics, Inc. marks a significant step forward in the company’s journey towards becoming a leader in the development of phage-based therapies. With a robust pipeline and strong financial backing, BiomX is primed to make meaningful contributions to the field of infectious disease treatment, ultimately improving outcomes for patients in need.
