T3 Pharma raises more than 12 million Swiss francs
T3 Pharma, a Basel-based biotech company, has closed its second financing round and raised in excess of 12 million Swiss francs in the process. The company’s management has now also been strengthened as it seeks to bring its immuno-oncological product candidates into the clinical development phase.
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T3 Pharma, a spin-off affiliated with the University of Basel, develops immuno-oncological treatment methods to combat tumors. The company, which is supported by BaseLaunch, the healthcare accelerator of BaselArea.swiss, is now intending to enter the clinical development phase. In advance of this, it has now closed a second round of financing, as outlined in a press release. Doing so, T3 Pharma raised more than 12 million francs.
Both existing investors and two new investors in the form of Boehringer Ingelheim Venture Fund (BIFV) and Reference Capital SA took part in the financing round. Simon Ittig, CEO of T3 Pharma, was quoted in the press release: “The support of these investors validates our work and indicates that we are on the right track”.
With the support of its investors and the Biocenter at the University of Basel, the leading product candidates of the Basel-based company are now set to be further developed. The focus is on a bacteria to be inserted into a tumor in order to produce therapeutic proteins within. Claire Barton, recently named Chief Medical Officer of T3 Pharma, will also be involved in this further development in the future. Barton has already worked with the company as a consultant over the past 18 months. Moreover, Frank Kalkbrenner, Managing Director of BIFV, has also been newly elected onto the Supervisory Board at T3 Pharma.