Closing of Financing Round and Strengthening of Development Team Paves the Way for T3 Pharma to Enter the Clinic
BASEL, Switzerland, September 26, 2019 / B3C newswire / -- T3 Pharmaceuticals AG (T3), a Basel (Switzerland)-based company focusing on immuno-oncology, closes its second financing round of over 12M CHF with existing investors joined by «Boehringer Ingelheim Venture Fund» (BIVF) and «Reference Capital SA». To progress into the clinical phase, T3 appoints Claire Barton as Chief Medical Officer, strengthens its development team and announces the clinical advisory board.
"We are very pleased to be joined by two experienced and specialised investors, the Boehringer Ingelheim Venture Fund and Reference Capital SA. This is optimal for completing preclinical work, and for planning and conducting the clinical trials ahead of us" comments Simon Ittig, CEO of T3. "The support of these investors validates our work and indicates that we are on the right track. This strong setup allows us to keep focusing on our core business. Special thanks are due to our existing investors who have supported us since inception". With the addition of these two new investors, T3 has now closed its second financing round with over 12M CHF.
Collaboration with investors, a dedicated team and continued support from the Biozentrum of the University of Basel provide an excellent position for T3 to complete preclinical activities for its lead candidate, which originated from the T3 platform. T3 is developing a proprietary protein delivery technology based on live bacteria expressing the «type 3 secretion system». The company has engineered the bacteria to grow selectively within solid tumors where they produce and deliver therapeutic proteins. T3’s lead product, called T3P-Y058-739, is expected to enter clinical testing in the middle of 2020.
Dr. Frank Kalkbrenner joins board of directors
To benefit from the expertise and strategic skills of the new investors, T3 welcomes Dr. Frank Kalkbrenner, managing director of BIVF, to its board of directors. "It was not only the technology and data, but the strategy and the team of T3 that convinced us to join" says Frank Kalkbrenner.
Nomination of Chief Medical Officer, strengthening of development team and formation of clinical advisory board
Joined by two experienced drug developers, T3 gains the knowhow needed to accurately plan and conduct its clinical trials. "I am looking forward to testing this exciting and innovative approach with T3!", adds Dr. Claire Barton, the newly nominated Chief Medical Officer. Claire has been supporting the company for the last 18 months as a consultant.
Christoph Kasper (CSO), Claire Barton (CMO) and Simon Ittig (CEO)
For clinical operations, T3 is further supported by Dr. Gabriella Galli, who joins T3 from Amgen where she was responsible for clinical trials with the oncolytic virus T-Vec.
T3 also announces its clinical advisory board, composed of Prof. Kevin Harrington (Royal Marsden Hospital, London), Prof. Reinhard Dummer (University Hospital Zürich), Prof. George Coukos and Dr. Stefan Zimmermann (both from CHUV Lausanne), and Prof. Aurélien Marabelle (Gustave Roussy, Paris). "I am delighted to have this opportunity to assist in the clinical development of T3 in concert with a highly distinguished group of clinician scientists" comments Kevin Harrington, "The T3 treatment platform has a huge degree of novelty and the potential to be applicable across a broad range of cancer types".
About T3 Pharmaceuticals AG
T3 was founded in May 2015 as a spin-off of the University of Basel, Switzerland. The Company is focusing on immuno-oncology (bacteria-based) therapies for the treatment of solid tumors. Cancer immunotherapy is seen as a turning point in the fight against cancer. Unlike traditional therapies that attack the tumor directly, the goal of immunotherapies is to stimulate the immune system to selectively recognize and attack tumor cells. T3 is among the first companies supported by BaseLaunch. It was awarded «Science Startup of the year 2018» at Falling Walls Venture, won the Venture.ch business plan competition in 2016 and recently the W.A. de Vigier Award.
About Boehringer Ingelheim Venture Fund
Created in 2010, the Boehringer Ingelheim Venture Fund GmbH (BIVF) invests in groundbreaking therapeutics-focused biotechnology companies to drive innovation in biomedical research. BIVF is searching for significant enhancements in patient care through pioneering science and its clinical translation by building long-term relationships with scientists and entrepreneurs. BIVF’s focus is to target unprecedented therapeutic concepts addressing high medical needs in immuno-oncology, regenerative medicine, infectious diseases and digital health. These may include novel platform technologies to address so far undruggable targets, new generation vaccines and/or new biological entities, such as oncolytic virotherapy.
BIVF takes an active role with its portfolio companies – delivering significant added value through its own extensive drug discovery, scientific and managerial expertise. BIVF has EUR 250 million under management and currently supervises a portfolio of more than 25 companies.
As the oldest firm dedicated to private investments in Switzerland, Reference Capital SA (formerly Genevest SA) has backed outstanding companies in tech, biotech and medtech since 1983.
Reference Capital’s team and network of experts span 3 continents. They provide access, expertise, and protection of interests to a select number of family offices and long-term investors seeking superior returns and investments with purpose. Reference Capital’s new investment programme, launched in 2019, connects investors to a curated and tailor-made portfolio of Private Equity and Venture Capital Funds as well as direct investments, shaping the future of the life sciences and technology sectors.
Reference Capital’s direct-early stage investments with successful exits include Swiss life sciences companies, such as Actelion, Axovan, Endoart, Kuros, Neocutis, Novimmune and Thommen Medical.
Chief Medical Officer Dr. Claire Barton
Dr. Claire Barton is a medical oncologist/pharmaceutical physician specializing in the clinical development of products for oncology indications. Dr. Barton has experience in all aspects of the planning, running, reporting, and publication of clinical trials (phase I-IV) in diverse areas of oncology. She served the pharmaceutical industry in positions at GlaxoWellcome, Lilly, and Roche, and has served as a consultant to a range of smaller companies and academic groups.
T3 Pharmaceuticals AG
Dr. Simon Ittig, CEO
+41 61 207 22 00
Tags: Type III Secretion Systems; Immunotherapy; Neoplasms; Bacterial cancer therapy; bacterial protein delivery
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