Fort Collins-based biopharma plans to raise $30M in capital

FORT COLLINS — CHD Bioscience Inc. in Fort Collins is raising $30 million in capital.

So far, the biopharmaceutical company has raised $125,000, according to a Form D filed with the Securities and Exchange Commission on Nov. 17. To raise the funds, CHD is offering equity. The company, founded in 2011, creates topical anti-infectives.

“We make localized and targeted treatments for infections,” chief executive Mike Handley told BizWest. “About 30 percent of the population can’t be treated with systemic antibiotics.”

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An issue with some antibiotics is it can be difficult to get enough of the drug to the site of the actual infection. But with the products CHD is making, they can be applied directly to the site. Handley said that provides better efficacy and decreases safety risks like exposing organs to strong antibiotics and wiping out the natural microbiomes of bacteria in a person’s body that helps strengthen the immune systems.

Handley said the company plans to close on $30 million in cash in the next week or two, which will go to initiating phase 3 of its clinical study on a drug product that can be used on surgical sites before a patient is sutured to prevent infection.

Phase 3 is expected to take place in the spring of next year, and Handley said the company plans to bring to market other products in the second half of 2018: an anti-infective wound wash and a small bone implant with anti-infective coating.