28 Jul T3 Pharma raises over 25 million Swiss francs
T3 Pharmaceuticals (T3 Pharma) has successfully closed a third financing round, raising over 25 million Swiss francs. According to a press release, the financing was co-led by existing investors, including the Boehringer Ingelheim Venture Fund, Reference Capital SA, Wille Finance AG and private investors. The company has raised over 40 million francs since it was founded in 2015.
A spin-off from the Biozentrum of the University of Basel, T3 Pharma has developed a novel cancer therapy using live bacteria. According to the University of Basel, the idea behind its approach combines two natural phenomena: that bacteria can colonize tumors and that certain bacteria can inject self-made protein molecules into human cells.
T3 Pharma intends to use the new funds to test its therapy in clinical studies, and a clinical trial in patients with solid tumors is planned to start in early 2021.
T3 Pharma received support from BaseLaunch. Download the full press release here.