T3 Pharma closes first financing round

28.11.2016 13:30

T3 Pharmaceuticals Ltd a Swiss-based biotech company specializing in breakthrough bacteria based cancer therapies, announced the successful closing of its first financing round. The funding has been provided by private Swiss investors and will secure further growth of the company, in particular the expansion of research activities and the initiation of preclinical development.

T3 Pharma is a spin-off from the Biozentrum of the University of Basel. The Company focuses on novel therapies for cancer patients. T3 Pharma has been engineering live bacteria to specifically infect solid tumors and fighting them with a proprietary protein delivery technology developed at the University of Basel.

In an effort to further advance research and preclinical development of bacteria-based cancer therapies, the company has closed its first financing round. The round complements the significant non-dilutive capital raised from the Swiss Commission for Technology and Innovation and various research foundations.

“Our strong investor base and the support by the University of Basel provide perfect conditions for the development of our breakthrough technology in cancer therapies”, said Simon Ittig, CEO and  co-founder of T3 Pharma. “This first financing round allows us to advance initial lead candidates into preclinical development.”

“It belongs to the mission of a modern University to help translating basic research into tangible benefits for patients and society,” explained Erich Nigg, Director of the Biozentrum. “We hope that T3 Pharma can exploit their innovative platform to bring novel treatments to cancer patients.”

About T3 Pharma
The vision of T3 Pharmaceuticals Ltd is to improve the lives of cancer patients by developing very specific and efficient therapies using live bacteria. The Company was founded in May 2015 as a spin-off of the University of Basel. T3 Pharma is developing an efficient protein delivery technology that is based on the use of live bacteria expressing the type 3 secretion system. While the technology has a wide spectrum of applications in drug development, T3 Pharma has been advancing the platform as a novel therapeutic approach to treat solid tumors.

(RAN)

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