TOLREMO receives 39 million US dollars in investments
TOLREMO Therapeutics has concluded a series A funding round with 39 million US dollars. The biotech company based in Basel can use this to conduct its first study involving humans. TOLREMO is pursuing a differentiated approach to prevent nongenetic drug resistance in cancer.
TOLREMO Therapeutics AG has received a total of 39 million US dollars in a series A funding round. The round was led by Basel-based BioMedPartners. Pierre Fabre Invest, the investment subsidiary of France’s Pierre Fabre Group, and existing investors were also involved.
The biotech company founded in 2017 is part of the portfolio of BaseLaunch, the Basel-based biotechnology development accelerator. Its headquarters are based in Tech Park Basel. According to a press release, its mission is to stop nongenetic cancer drug resistance as it emerges. To do so, its oral drug candidate TT125-802 disarms cancer’s earliest defenses to targeted therapies, thereby surmounting a universal challenge for current and future targeted therapies.
First study in humans
The series A funding will lead to the first study in humans involving patients with solid tumors for this leading drug candidate, according to information from the company. TOLREMO’s Co-Founder and CEO Dr. Stefanie Flückiger-Mangual commented that cancer drug resistance is a significant obstacle to long-term survival. It is usually addressed in the later phases of treatment after genetic mutations have already made the cancer permanently resistant to therapy. She went on to add that TOLREMO’s drug candidate “has the potential to prevent therapy evasion and significantly improve treatment durability.”