Additional capital for TOLREMO therapeutics

TOLREMO’s proprietary drug discovery engine enables the identification of novel drug-resistance regulators and the development of small molecule therapies against these promising drug targets. The company’s therapies aim to complement standard cancer therapies to offer better response rates, longer survival and improved quality of life.

Thanks to additional funds from the second closing of its series A round, the startup is set for the next steps. Besides the lead investors, BioMedPartners and Altos Venture, existing investors such as Redalpine Venture Partners, the Zürcher Kantonalbank and several experienced private biotech investors participated in the round. The additional funds are dedicated to the development of TOLREMO’s first clinical candidate and to the further strengthening of the company’s preclinical pipeline of resistance-preventing assets.

“We are delighted about the strong commitment and continuous financial support from our strong shareholder base. Drug resistance in cancer continues to be a major hurdle in achieving long-term patient benefit. The additional funds bring us one step closer to delivering a new wave of resistance-preventing precision therapies to patients with cancer,” commented Stefanie Flückiger-Mangual, CEO and co-founder of TOLREMO.

Industry veterans join TOLREMOs Board of Directors
TOLREMO also announced the appointment of Reinhard Ambros, former Global Head of the Novartis Venture Fund, as Chairman of the Board, and  Guido Hartmann, former Head of Pharmacology at Therachon AG (acquired by Pfizer in 2019), as COO/Head Translational Sciences.

Reinhard Ambros, Chairman of the Board explained: “This is an exciting time to become involved with TOLREMO. The company’s focus on non-genetic drug resistance in cancer is unique in the field and has the potential to introduce a paradigm shift in the way we deliver solutions for long-lasting therapeutic benefit to patients.” Dr. Guido Hartmann elaborated: “It is impressive how TOLREMO has used its platform to identify and validate a novel regulator of drug resistance in cancer in such a short time since foundation. I am thrilled to contribute to the continued success of the company.”

(Press release/RAN)