TargImmune raises CHF17.7 million and appoints new CEO

Tumors thrive because they escape from the immune system. TargImmune is the only targeted immunotherapy company that leverages three simultaneous mechanisms of action. Its drugs specifically target the tumors, initiating cell death, forcing the cancers to attract the immune system to complete the attack and destruction of the tumors, also destroying neighboring cancer cells in heterogeneous tumors. The drugs are delivered by systemic injection, so they reach distant metastasis, which are the leading cause of cancer death. These innovative properties result in excellent in vivo activity even as single drugs.

The new financing round expands the company’s cash position into the clinical development of its lead candidate Tar001. With significant progress in the development of TargImmune’s unique RNA drug platform, the company has all the tools and processes in place to file an Investigational New Drug Application (IND) with the FDA and start the clinical program in the second quarter of next year. The company is on track to complete regulatory toxicology studies (GLP) as planned later this year.

In addition the Basel-based company announced that Peter Braun will serve as CEO effective August 16, 2021. He will succeed Esteban Pombo-Villar, who has built the company over the past four years and will now focus on leading key projects in chemistry and biology as Chief Technology Officer (CTO).

Peter Braun is an accomplished, entrepreneurial, commercially and strategically astute leader with more than 25 years of experience in building businesses and delivering strong, sustainable results across the pharmaceutical and healthcare value chain. Previously, he held leadership positions in the biotechnology and biopharmaceutical industry. Most recently he led the biopharmaceutical company Nordic Nanovector. Prior to that, Peter Braun had a long and successful career at Roche with senior leadership roles.

(Press release / SK)