Spexis and SPRIM Global Investments (SGI) Announce Plans for Clinical Trial Partnership to Fund up to Half of the Projected Phase 3 Clinical Development Costs of ColiFin

Spexis AG / Key word(s): Financing/Partnership Spexis and SPRIM Global Investments (SGI) Announce Plans for Clinical Trial Partnership to Fund up to Half of the Projected Phase 3 Clinical Development Costs of ColiFin 08-Feb-2023 / 07:20 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

Allschwil, Switzerland, February 8, 2023

 

Spexis and SPRIM Global Investments (SGI) Announce Plans for Clinical Trial Partnership to Fund up to Half of the Projected Phase 3 Clinical Development Costs of ColiFin

• SGI debt facility to provide Spexis up to half of the projected ColiFin Phase 3 development costs, including those involving both COPILOT and COPA
• SGI has invested in Spexis as part of the ColiFin P3 clinical trial partnership financing; additional investments from other investors expected in the near future
• SGI debt facility subject to a number of conditions, including negotiation of final agreements

Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on rare diseases and oncology, today announced that the Company has executed term sheets describing a clinical trial partnership with SPRIM Global Investments (SGI), a leading health sciences venture capital firm with deep industry expertise and decades of operating experience across 17 countries. The partnership, which includes a debt facility, is expected to provide Spexis with up to half of the Phase 3 clinical development costs of ColiFin and enable the initiation of Spexis’ Phase 3 COPILOT study, expected in the second quarter of 2023. COPILOT will evaluate and confirm the use of once versus twice daily dosing for COPA, the planned single pivotal efficacy and safety Phase 3 trial. While the majority of such funding is planned to be in the form of senior debt tied to the funding of the COPILOT and COPA studies, SGI has also invested in Spexis via an interest-bearing subordinated convertible note financing in an amount of $500,000, with a term of 2 years and partial warrant coverage. Spexis expects to secure additional investors in the near future.