| 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

BLKB supporting startups in Basel region
Basel Area Business & Innovation, Innovation

BLKB supporting startups in Basel region

Basellandschaftliche Kantonalbank (BLKB) has founded the inQbator startup accelerator. Together with its partners Hemex and Launchpad, the bank will be...

Read More
BioVersys receives funding in the fight against tuberculosis
Basel Area Business & Innovation, Invest

BioVersys receives funding in the fight against tuberculosis

The Basel-based pharma company BioVersys has received 2.7 million euros in funding alongside two partners. This financing serves to help...

Read More
Biosynex takes up residence in Delémont
Basel Area Business & Innovation, Invest

Biosynex takes up residence in Delémont

The French company Biosynex develops analytical, diagnostic and prophylactic medical devices. Its portfolio includes a test for COVID-19. It has...

Read More
Novartis Campus opening further
Basel Area Business & Innovation, Switzerland Innovation Park

Novartis Campus opening further

Novartis' 25-year anniversary also marks the next step in the ongoing opening of the campus. The Switzerland Innovation Park Basel...

Read More
docdok.health increases safety of coronavirus vaccinations
Basel Area Business & Innovation, Innovation

docdok.health increases safety of coronavirus vaccinations

The Basel-based start-up docdok.health has developed an app that aims to increase the safety and efficacy of COVID-19 vaccinations. The...

Read More
Hemex attracts Swiss investors
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Hemex attracts Swiss investors

A group of experienced Swiss entrepreneurs and private investors have participated in a significantly oversubscribed financing round for Hemex. The...

Read More
1 2 3 40

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