Tolremo Therapeutics, a Swiss biotech company, completed a CHF 9.0m (USD $9.3m) Series A financing.
The round was led by BioMedPartners with participation from Redalpine and Altos Venture, as well as existing shareholders Zürcher Kantonalbank and several biotech investors.
The company intends to use the funds to further advance two major drug development programs to prevent drug resistance in cancer therapies.
Founded in March 2017 as an ETH Spin-off by Dr. Stefanie Flückiger-Mangual, Prof. Dr. Wilhelm Krek, Prof. Dr. Karl-Heinz Altmann, Dr. Isaac Kobrin, and Emmanuel Savioz, Tolremo is a biotechnology company advancing a science-based drug discovery and development pipeline leveraging the founders’ insights into the molecular mechanisms of cancer and drug resistance and by their expertise in medicinal chemistry and pharmaceutical drug development.
In conjunction with the funding, the company strengthened its Board of Directors with:
– Dr. Erich Greiner, an advisor to several public and private funds in the US and Europe and CEO/founder of Cedrus Therapeutics;
– Prof. em. Thomas Cerny, former head physician for oncology and haematology at the Cantonal Hospital of St. Gallen and acting president of national foundation for Cancer Research in Switzerland; and
– Dr. Andreas Wallnöfer, former Head of Clinical Research & Exploratory Development at Roche Pharma and General Partner at BioMedPartners, who will join the Board to represent the lead investor.