| News

Tolremo raises additional funding

15.06.2020

The Muttenz-based biotechnology company Tolremo Therapeutics has raised an additional 4.7 million Swiss francs as part of a financing round. The company develops cancer therapies for precision medicine and is now driving forward clinical development.

Having raised an additional 4.7 million Swiss francs, Tolremo Therapeutics has now received a total of 13.7 million Swiss francs from a Series A financing round, as detailed in a press release. In addition to the venture capitalists BioMedPartners AG and Altos Venture AG, existing investors such as the Cantonal Bank of Zurich (ZKB) and Redalpine Venture Partners AG have now decided to get involved.

Tolremo develops cancer therapies for precision medicine with the aim of preventing resistances. The successful financing round should now see the first product candidate for clinical development advanced further. Moreover, the development program of the Basel-based company is also set to be expanded.

Resistance against cancer drugs continues to be a major hurdle in achieving long-term patient benefit, explains Stefanie Flückiger-Mangual, Co-Founder and CEO of Tolremo, in the press release. The additional funding will bring the development of resistance-preventing precision therapies for cancer patients one step closer.

Tolremo will also be strengthening its management team. In this context, Reinhard Ambros, the former Global Head of the Novartis Venture Fund, has been named Chairman of the Board. In addition, Guido Hartmann, former Head of Pharmacology at Therachon AG, will join the company in the role of COO/Head Translational Sciences.

Tolremo Therapeutics was also supported by BaseLaunch, which is the Basel Area-based incubator and accelerator that helps scientists and entrepreneurs launch exceptional biotech companies. BaseLaunch is operationally run and financed by Basel Area Business & Innovation, the investment and innovation promotion agency of the Basel Area.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Botanikind settles in Basel
Basel Area Business & Innovation, Innovation, Invest

Botanikind settles in Basel

The internationally active Swiss company Botanikind has settled in Basel and established Botanikind AG there. It provides natural ingredients for...

Read More
Kinarus secures capital commitment of 57 million Swiss francs
Basel Area Business & Innovation, Innovation, Invest

Kinarus secures capital commitment of 57 million Swiss francs

The biopharmaceutical company Kinarus has signed a capital commitment of up to 57 million Swiss francs with the investment group...

Read More
Biotech startups from the Basel Area confirm leading position
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Biotech startups from the Basel Area confirm leading position

As part of the Top 100 Swiss Startup Awards 2021, the most promising startups in Switzerland are honored. These also...

Read More
T3 Pharma wins Swiss Economic Award
Basel Area Business & Innovation, Innovation, Invest

T3 Pharma wins Swiss Economic Award

T3 Pharma has won the Swiss Economic Award 2021. Switzerland’s most prestigious young entrepreneur prize is awarded by the Swiss...

Read More
Worg selects Basel Area for European headquarters
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Worg selects Basel Area for European headquarters

Worg Pharmaceuticals has opted to establish its European headquarters at the site Allschwil of the Switzerland Innovation Park Basel Area....

Read More
ten23 health settles in Basel
Basel Area Business & Innovation, Innovation, Invest

ten23 health settles in Basel

The life sciences cluster Rosental Mitte located in Basel is home to a new, globally active company called ten23 health....

Read More
1 2 3 48

Do you have a question? We'd like to hear from you.