In the quest to effectively target therapeutically valuable molecules within diseased cells, Palto Therapeutics is revolutionizing treatments for cancer and beyond, all while addressing cost and toxicity concerns. The startup impressed the Venture Kick jury, winning CHF 150,000 during the third stage finale.
Genetic medicines, such as siRNAs, possess an immense potential to treat many incurable diseases, but their effectiveness is hindered by currently unresolved challenges in their delivery, which prevent them from reaching diseased cells. This limitation extends to therapeutic peptides and other large molecules like mRNAs, especially for their use beyond vaccination.
Palto Therapeutics offers a tailored, precise, and cost-effective technology for delivering these molecules within the targeted diseased cells while reducing potential toxicity. Its drug technology SmartCoat, a nanostructure designed to protect traffic and target siRNAs, overcoming all delivery hurdles. Currently, Palto Therapeutics focuses on validating its technology with drug candidates in cancer and rare disease indications.
The startup will invest CHF 150,000 from Venture Kick to bring forward the latest generation of their SmartCoat design and advance collaborations with industrial partners. The data generated will be key enablers of the seed funding and further growth of the company.
The global RNA-based therapeutics market is expected to exceed USD 30 billion by 2030 and grow at a staggering 18% annually. Over the next two years, Palto Therapeutics' primary objective is to advance its innovative SmartCoat-based drug candidate to Phase 1 clinical trials, with a specific focus on addressing the challenging issue of pancreatic cancer. The startup plans to raise its seed round in 2024 to complete all nonclinical work enabling the initiation of the clinical study.
Palto Therapeutics was founded by Dr. William Wishart, Dr. Marcel Blommers, and Dr. Helmut Sparrer, research scientists with an extensive background in pharmaceutical research and drug development. They have a concrete plan for collaboration with Prof Johannes Mosbacher (in vitro biology, PK/PD) and Prof Georg Lipps (engineering of siRNA vehicle), at FHNW/Muttenz, and Dr. Roger Benoit, structural biology, at PSI/Villigen. Prof W. Filipowicz, a pioneer in siRNA research at the FMI, is supporting as an academic advisor.
The team emphasized that “Venture Kick has provided a crucial boost and the critical confidence to help create the momentum to lift Palto Therapeutics off the ground. Venture Kick is a strong advocate for Swiss innovation and their highly experienced team of professionals delivers hugely meaningful achievements for startup companies, the Swiss entrepreneurial ecosystem, and society. Palto Therapeutics is very grateful for the continued support and insights provided by Venture Kick.”
(Press release/RAN)
Photo: Palto Therapeutics management team from left to right: Vincent Forster, William Wishart, Marcel Blommers, and Helmut Sparrer
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