T3 Pharma Bags CHF25M Investment in Third Funding

By StartUp City | Friday, July 31, 2020

The company will use the capital to progress its lead candidate, T3P-Y058-739, through clinical studies. The Phase 1/2 clinical study in solid tumors has been planned to begin in early 2021. T3P-Y058-739 is the first therapeutic candidate developed with the help of T3 Pharma’s proprietary protein delivery platform.

FREMONT, CA: T3 Pharmaceuticals AG, a Basel, Switzerland-based biotech advancing immuno-oncology with its bacteria-based protein delivery platform, completed its third financing round, raising over 25M CHF ($27.02m).

The round was co-led by existing investors the Boehringer Ingelheim Venture Fund (BIVF), Wille Finance AG, Reference Capital SA and private investors, who all took part in the round.

This financing brings T3 Pharma’s total funding since the company’s inception in 2015 to 40m CHF. ($43.23m)

Founded in 2015 as a spin-off from the Biozentrum of the University of Basel and led by Dr. Simon Ittig, CEO, T3 Pharma has built a proprietary protein delivery platform by repurposing the bacterial type III secretion (T3S) system.

The company will use the capital to progress its lead candidate, T3P-Y058-739, through clinical studies. The Phase 1/2 clinical study in solid tumors has been planned to begin in early 2021. T3P-Y058-739 is the first therapeutic candidate developed with the help of T3 Pharma’s proprietary protein delivery platform. The technology is created on the discovery that the bacterial type III secretion (T3S) system can be repurposed to deliver chosen proteins into eukaryotic cells. T3 Pharma’s live bacteria vehicles have been optimized to accumulate and grow selectively at solid tumors, where they produce and deliver the therapeutic protein.

Dr. Simon Ittig, T3 Pharma’s CEO, said, “This significant financing round comes at a pivotal moment for our company as we leverage the full potential of our proprietary platform and enter the clinic with our lead candidate. We are grateful to our investors for their continued support.”

“Since I joined the Board last year, I have been impressed not only by the technology, but also by the team and the approach they have taken to building T3 Pharma’s innovative, differentiated platform and progressing its lead candidate. It is an endorsement of the quality of the science and the team that another financing round has been completed with an exceptional group of investors, which share our vision of improving the lives of cancer patients,” commented Dr. Frank Kalkbrenner, Global Head of BIVF.

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