| 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

Basel startups impress investors
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Basel startups impress investors

According to the latest Swiss Venture Capital Report, investments in Swiss startups increased by 44 percent last year. As a...

Read More
Basel Area – exactly the right chemistry for South Korean pharma companies
Basel Area Business & Innovation, Innovation, Invest

Basel Area – exactly the right chemistry for South Korean pharma companies

KPBMA and Basel Area Business & Innovation establish tailored collaboration to support Korean biopharmaceutical companies to enter the European market

Read More
Basel Area supporting three digital health startups
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Basel Area supporting three digital health startups

Basel Area Business & Innovation will be offering intensive support to the three winners of its DayOne Digital Health Accelerator...

Read More
Gray establishes presence in Basel
Basel Area Business & Innovation, Innovation, Invest

Gray establishes presence in Basel

The North American fully integrated specialty service provider Gray has established a subsidiary in Basel. The key factors in favor...

Read More
Artificial Intelligence able to identify potentially life-saving antibiotics
Basel Area Business & Innovation, Innovation, Invest

Artificial Intelligence able to identify potentially life-saving antibiotics

A computer algorithm has identified antibiotics that that are still effective against infections in which multi-resistant germs are present. University...

Read More
Investors give Anaveon 110 million Swiss francs
Basel Area Business & Innovation, Innovation, Invest

Investors give Anaveon 110 million Swiss francs

Anaveon has received investment commitments amounting to 110 million Swiss francs in a Serie B funding round. The Basel-based biopharmaceutical...

Read More
1 2 3 52

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