BiomX Announces a Series of Financings for Aggregate Gross Proceeds of $12 Million
BiomX Inc. (NYSE American: PHGE) has secured $12 million in financing through a series of offerings, including a registered direct offering and concurrent private placement. The funding will support the advancement of their BX004 program through Phase 2b study in cystic fibrosis patients, with topline results expected in Q1 2026.
The offerings were led by Deerfield Management Company with significant participation from the Cystic Fibrosis Foundation and Nantahala Capital. The financing includes the purchase of 3,633,514 shares of common stock at $0.9306 per share, along with warrants for additional shares. The company will also analyze real-world evidence exploring the relationship between P. aeruginosa reduction and clinical outcomes in CF patients.
BiomX Inc. (NYSE American: PHGE) ha ottenuto 12 milioni di dollari in finanziamenti attraverso una serie di offerte, tra cui un'offerta diretta registrata e un collocamento privato simultaneo. I fondi supporteranno l'avanzamento del loro programma BX004 attraverso lo studio di fase 2b nei pazienti affetti da fibrosi cistica, con risultati preliminari attesi nel primo trimestre del 2026.
Le offerte sono state guidate da Deerfield Management Company con una significativa partecipazione della Cystic Fibrosis Foundation e di Nantahala Capital. Il finanziamento include l'acquisto di 3.633.514 azioni ordinarie a 0,9306 dollari per azione, insieme a warrant per azioni aggiuntive. L'azienda analizzerà anche le evidenze del mondo reale per esplorare la relazione tra la riduzione di P. aeruginosa e gli esiti clinici nei pazienti affetti da fibrosi cistica.
BiomX Inc. (NYSE American: PHGE) ha asegurado 12 millones de dólares en financiamiento a través de una serie de ofertas, incluyendo una oferta directa registrada y una colocación privada concurrente. Los fondos apoyarán el avance de su programa BX004 a través del estudio de fase 2b en pacientes con fibrosis quística, con resultados preliminares esperados en el primer trimestre de 2026.
Las ofertas fueron lideradas por Deerfield Management Company con una participación significativa de la Cystic Fibrosis Foundation y Nantahala Capital. El financiamiento incluye la compra de 3,633,514 acciones ordinarias a 0.9306 dólares por acción, junto con warrants para acciones adicionales. La empresa también analizará la evidencia del mundo real para explorar la relación entre la reducción de P. aeruginosa y los resultados clínicos en pacientes con fibrosis quística.
BiomX Inc. (NYSE American: PHGE)는 등록된 직접 제안 및 동시 사모 배치를 포함한 일련의 제안을 통해 1,200만 달러의 자금을 확보했습니다. 이 자금은 섬유낭종 환자에 대한 2b 단계 연구를 통해 그들의 BX004 프로그램을 발전시키는 데 지원될 것이며, 2026년 1분기에 주요 결과가 예상됩니다.
이번 제안은 Deerfield Management Company가 주도하였으며, 섬유낭종 재단과 Nantahala Capital의 상당한 참여가 있었습니다. 이 자금은 주당 0.9306달러에 3,633,514주의 보통주를 구매하는 것을 포함하며, 추가 주식을 위한 워런트도 포함됩니다. 회사는 또한 CF 환자에서 P. aeruginosa 감소와 임상 결과 간의 관계를 탐구하는 실제 증거를 분석할 것입니다.
BiomX Inc. (NYSE American: PHGE) a sécurisé 12 millions de dollars de financement grâce à une série d'offres, y compris une offre directe enregistrée et un placement privé simultané. Ce financement soutiendra l'avancement de leur programme BX004 à travers une étude de phase 2b chez des patients atteints de fibrose kystique, avec des résultats préliminaires attendus au premier trimestre 2026.
Les offres ont été dirigées par Deerfield Management Company avec une participation significative de la Cystic Fibrosis Foundation et de Nantahala Capital. Le financement comprend l'achat de 3 633 514 actions ordinaires à 0,9306 dollars par action, ainsi que des bons de souscription pour des actions supplémentaires. L'entreprise analysera également des preuves du monde réel pour explorer la relation entre la réduction de P. aeruginosa et les résultats cliniques chez les patients atteints de fibrose kystique.
BiomX Inc. (NYSE American: PHGE) hat 12 Millionen Dollar an Finanzierung durch eine Reihe von Angeboten gesichert, darunter ein registriertes Direktangebot und eine gleichzeitige Privatplatzierung. Die Mittel werden die Weiterentwicklung ihres BX004-Programms durch die Phase-2b-Studie bei Patienten mit zystischer Fibrose unterstützen, wobei die vorläufigen Ergebnisse im ersten Quartal 2026 erwartet werden.
Die Angebote wurden von Deerfield Management Company geleitet, mit erheblicher Beteiligung der Cystic Fibrosis Foundation und Nantahala Capital. Die Finanzierung umfasst den Kauf von 3.633.514 Stammaktien zu einem Preis von 0,9306 Dollar pro Aktie, sowie Warrants für zusätzliche Aktien. Das Unternehmen wird auch reale Beweise analysieren, um die Beziehung zwischen der Reduktion von P. aeruginosa und klinischen Ergebnissen bei CF-Patienten zu untersuchen.
- Secured $12M in new financing
- FDA granted Fast Track and Orphan Drug Designation for BX004
- Strong investor participation including Cystic Fibrosis Foundation
- Funding sufficient for Phase 2b study completion
- Significant dilution through issuance of 3.6M new shares
- Additional dilution potential from 5.9M warrant shares
- Reduced warrant exercise price from $2.311 to $0.9306
Insights
BiomX has secured
This financing will likely result in substantial dilution for existing shareholders. With a pre-financing market cap of approximately
The participation of Deerfield Management as lead investor alongside the Cystic Fibrosis Foundation provides important validation of BiomX's phage therapy approach. The CF Foundation's involvement is particularly notable as it suggests clinical experts see potential in BX004's ability to address Pseudomonas aeruginosa infections - a major challenge in CF treatment where antibiotic resistance is increasingly problematic.
The financing structure reveals both strengths and weaknesses in BiomX's position. The steep discount on the offer price and warrant repricing suggests urgency in securing capital, while the investor caliber indicates continued belief in the technology platform. This capital should provide runway through two critical inflection points: the BX211 Phase 2 readout for Diabetic Foot Osteomyelitis expected this quarter and BX004's Phase 2b results in Q1 2026.
BiomX's plan to analyze real-world evidence on P. aeruginosa reduction and clinical outcomes represents a strategic approach to support future regulatory filings. With both Fast Track and Orphan Drug designations already secured, this pathway could potentially accelerate BX004's development timeline if successful.
Proceeds to support advancement of BX004 program through Phase 2b study topline results
in cystic fibrosis (CF) patients, anticipated in Q1 2026
Financing will also support analysis of real-world evidence in people with CF to explore
the relationship between P. aeruginosa reduction and clinical outcomes
NESS ZIONA, Israel, Feb. 26, 2025 (GLOBE NEWSWIRE) -- BiomX Inc. (NYSE American: PHGE, the “Company” or “BiomX”), a clinical-stage company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, today announced that it has entered into a securities purchase agreement with investors in connection with a registered direct offering, concurrent private placement of the Company’s securities, and simultaneous exercise of certain existing common stock purchase warrants (collectively, the “Offerings”) for expected aggregate gross proceeds of approximately
“Following these offerings, we expect to have sufficient funding to reach substantial inflection points including topline results of our Phase 2b study of BX004 in Q1 2026 and our Phase 2 readout for BX211 in Diabetic Foot Osteomyelitis later this quarter,” said Jonathan Solomon, BiomX’s Chief Executive Officer. “Peer-reviewed publications report findings supporting the link between P. aeruginosa reduction and improved clinical outcomes in people with CF. Following communication with the FDA we intend to present our plans to analyze real-world evidence and attain endorsement that supports potential future regulatory filings. We anticipate further discussion with the FDA and European Committee for Medicinal Products for Human Use (CHMP) later this year to discuss our proposed plan. To date, the FDA has granted BX004 Fast Track designation and Orphan Drug Designation.”
Laidlaw & Company (UK) Ltd. acted as sole placement agent for the Offerings. Haynes and Boone, LLP served as legal counsel to BiomX. Sullivan & Worcester LLP served as legal counsel to Laidlaw.
Terms of the Offerings
Under the securities purchase agreement, the investors have agreed to purchase an aggregate of 3,633,514 shares of the Company’s common stock (or registered pre-funded warrants in lieu thereof) in a registered direct offering at an effective purchase price of
Exercise of the unregistered pre-funded warrants are subject to stockholder approval and such warrants will be exercisable until exercised in full. Exercise of the unregistered warrants are subject to stockholder approval and such warrants will be exercisable for a period of five years following the stockholder approval date.
The Company also has agreed with holders of certain existing warrants to purchase up to an aggregate of 6,955,527 shares of the Company’s common stock, which warrants were issued on March 15, 2024 with an exercise price of
The offer and sale in the registered direct offering of the shares of the Company’s common stock, registered pre-funded warrants and shares of common stock underlying the registered pre-funded warrants are being made by the Company pursuant to a “shelf” registration statement on Form S-3 (333-275935), including a base prospectus, initially filed with the Securities and Exchange Commission (the “SEC”) on December 7, 2023 and declared effective by the SEC on January 2, 2024 and a prospectus supplement that forms a part of the registration statement. The prospectus supplement relating to the registered direct offering will be filed with the SEC and will be available at the SEC’s website located at http://www.sec.gov.
The unregistered pre-funded warrants, unregistered warrants and the new warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and/or Regulation D promulgated thereunder. The Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock issuable upon exercise of the unregistered pre-funded warrants, unregistered warrants and new warrants. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities of BiomX in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About BX004
BiomX is developing BX004, a fixed multi-phage cocktail, for the treatment of people with CF with chronic pulmonary infections caused by P. aeruginosa, a main contributor to morbidity and mortality in people with CF. In November 2023, BiomX announced positive topline results from Part 2 of the Phase 1b/2a trial where BX004 demonstrated improvement in pulmonary function associated with a reduction in P. aeruginosa burden compared to placebo in a predefined subgroup of patients with reduced lung function (baseline FEV1<
About BX211
BX211 is a personalized phage treatment for the treatment of DFO associated with S. aureus. The personalized phage treatment tailors a specific phage selected from a proprietary phage-bank according to the specific strain of S. aureus biopsied and isolated from each patient. DFO is a bacterial infection of the bone that usually develops from an infected foot ulcer and is a leading cause of amputation in patients with diabetes.
The ongoing randomized, double-blind, placebo-controlled, multi-center Phase 2 trial investigating the safety, tolerability, and efficacy of BX211 for subjects with DFO associated with S. aureus has finished enrollment for a randomized at a 2:1 ratio to BX211 or placebo. BX211 or placebo is designed to be administered weekly, by topical and IV route at Week 1 and by the topical route only at each of Weeks 2-12. Over the 12-week treatment period, all subjects are expected to continue to be treated in accordance with standard of care which will include antibiotic treatment as appropriate. A first readout of study topline results is expected at Week 13 evaluating healing of the wound associated with osteomyelitis, followed by a second readout at Week 52 evaluating amputation rates and resolution of osteomyelitis based on X-ray, clinical assessments, and established biomarkers (ESR and CRP). These readouts are expected in the first quarter of 2025 and the first quarter of 2026, respectively.
About BiomX
BiomX is a clinical-stage company leading the development of natural and engineered phage cocktails and personalized phage treatments designed to target and destroy harmful bacteria for the treatment of chronic diseases with substantial unmet needs. BiomX discovers and validates proprietary bacterial targets and applies its BOLT (“BacteriOphage Lead to Treatment”) platform to customize phage compositions against these targets. For more information, please visit www.biomx.com, the content of which does not form a part of this press release.
Safe Harbor
This press release contains express or implied “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. For example, when BiomX refers to the closing of the Offerings, the use of the net proceeds of the Offerings, the filing of the registration statement with the SEC covering the resale of the shares of common stock issuable upon exercise of the unregistered pre-funded warrants, unregistered warrants and new warrants, its anticipated timing for reporting results for its clinical assets as well as the design thereof, the potential of its candidates to address the substantial unmet needs of patients with intractable infections, and the estimates of the sufficiency of its cash, cash equivalents and short-term deposits, it is using forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on BiomX management’s current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of BiomX’s control. These risks and uncertainties include, but are not limited to, BiomX’s ability to obtain all necessary regulatory approvals on a timely basis, or at all; BiomX’s ability to obtain stockholder approval on a timely basis, or at all; the closing of the Offerings on a timely basis on the terms described herein, or at all; changes in applicable laws or regulations; the possibility that BiomX may be adversely affected by other economic, business, and/or competitive factors, including risks inherent in pharmaceutical research and development, such as: adverse results in BiomX’s drug discovery, preclinical and clinical development activities, the risk that the results of preclinical studies and early clinical trials may not be replicated in later clinical trials, BiomX’s ability to enroll patients in its clinical trials, and the risk that any of its clinical trials may not commence, continue or be completed on time, or at all; decisions made by the FDA and other regulatory authorities; investigational review boards at clinical trial sites and publication review bodies with respect to our development candidates; BiomX’s ability to obtain, maintain and enforce intellectual property rights for its platform and development candidates; its potential dependence on collaboration partners; competition; uncertainties as to the sufficiency of BiomX’s cash resources to fund its planned activities for the periods anticipated and BiomX’s ability to manage unplanned cash requirements; and general economic and market conditions. Therefore, investors should not rely on any of these forward-looking statements and should review the risks and uncertainties described under the caption “Risk Factors” in BiomX’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 4, 2024, and additional disclosures BiomX makes in its other filings with the SEC, which are available on the SEC’s website at www.sec.gov. Forward-looking statements are made as of the date of this press release, and except as provided by law BiomX expressly disclaims any obligation or undertaking to update forward-looking statements.
Contacts:
BiomX Inc.
Ben Cohen
benc@biomx.com
CORE IR
Mike Mason
ir-biomx@biomx.com
FAQ
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