T3 Pharma raises CHF 25M to advance bacterial cancer therapy

Founded in 2015 as a spin-off from the Biozentrum of the University of Basel, T3 Pharma built a proprietary protein delivery platform by repurposing the bacterial type III secretion (T3S) system. ts lead product, T3P-Y058-739 T3P-Y058-739 is the first therapeutic candidate developed using the 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 tumours, where they produce and deliver the therapeutic protein.

T3 Pharma’s third financing round was co-led by existing investors, including the Boehringer Ingelheim Venture Fund (BIVF), Reference Capital SA, Wille Finance AG and private investors, who all participated in the round. This latest financing brings T3 Pharma’s total funding since the launch of the Company in 2015 to CHF 40 million.

"This significant financing round comes at a pivotal moment for our company as we leverage the full potential of our proprietary platform and enter the clinic with our lead candidate. We are grateful to our investors for their continued support,” said Simon Ittig, T3 Pharma’s CEO.

T3 Pharma will use the new funds primarily to progress its lead candidate, T3P-Y058-739, through clinical studies. The Phase 1/2 clinical study in solid tumours is planned to start in early 2021.

“Since I joined the Board last year, I have been impressed not only by the technology but also by the team and the approach they have taken to building T3 Pharma’s innovative, differentiated platform and progressing its lead candidate. It is an endorsement of the quality of the science and the team that another financing round has been completed with an exceptional group of investors, which share our vision of improving the lives of cancer patients,” said Frank Kalkbrenner, Global Head of BIVF, commented.

(Press release)