T3 Pharmaceuticals AG, a Basel, Switzerland-based biotech advancing immuno-oncology with its bacteria-based protein delivery platform, closed its third financing round, raising over 25M CHF.
The round was co-led by existing investors the Boehringer Ingelheim Venture Fund (BIVF), Reference Capital SA, Wille Finance AG and private investors, who all participated in the round.
This financing brings T3 Pharma’s total funding since the launch of the company in 2015 to 40m CHF.
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 funds to progress its lead candidate, T3P-Y058-739, through clinical studies. The Phase 1/2 clinical study in solid tumors is planned to start in early 2021. T3P-Y058-739 is the first therapeutic candidate developed using T3 Pharma’s proprietary protein delivery platform. The technology is built 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 optimised to accumulate and grow selectively at solid tumors, where they produce and deliver the therapeutic protein.