Polyphor gains financial cushion ahead of Phase III readout of lone clinical program

A new equity financing should give Polyphor a little more financial breathing room as the Swiss biotech tries to broaden its pipeline and move away from an all-or-nothing Phase III coin flip in 1Q21.

Polyphor AG (SIX:POLN) announced a staggered convertible bond deal on July 28 in which French firm IRIS could purchase up to CHF19.3 million ($21 million) over the next two years via monthly purchases of CHF800,000 in mandatory convertible bonds...