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TargImmune raises nearly 18 million Swiss francs

20.07.2021

The Basel-based biotechnology firm TargImmune has raised 17.7 million Swiss francs as part of a financing round. It now intends to transfer its lead candidate to clinical development. The company develops immunotherapies for the targeted destruction of tumors.

TargImmune Therapeutics develops targeted immunotherapies that fight the tumor itself, alert the immune system and destroy neighboring tumor cells. The Basel-based company now intends to transfer its lead product candidate Tar001 to clinical development and can call upon proceeds raised from a financing round for this purpose, further details of which can be found in an article published by startupticker.ch. TargImmune raised a total of 17.7 million Swiss francs in the aforementioned financing round.

Based at the Technologiepark Basel, TargImmune is developing its drug using the company’s proprietary RNA platform. Clinical development is expected to begin in the second quarter of 2022. TargImmune also plans to file an application with the U.S. Food and Drug Administration with the aim of securing Investigational New Drug status.

However, CEO Esteban Pombo-Villar is set to leave his post and will in future work as Head of Technology for the Basel-based company, which was founded back in 2016. On August 16, 2021, Peter Braun will then take over management responsibility. He has 25 years of professional experience. Most recently, he worked for the Norwegian company Nordic Nanovector.

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