Thursday, September 26, 2019 @ 2:00 pm
T3 Pharmaceuticals AG (T3), a Basel (Switzerland)-based company focusing on immuno-oncology, closes its second financing round of over 12M CHF with existing investors joined by «Boehringer Ingelheim Venture Fund» (BIVF) and «Reference Capital SA». To progress into the clinical phase, T3 appoints Claire Barton as Chief Medical Officer, strengthens its development team and announces the clinical advisory board.
"We are very pleased to be joined by two experienced and specialised investors, the Boehringer Ingelheim Venture Fund and Reference Capital SA. This is optimal for completing preclinical work, and for planning and conducting the clinical trials ahead of us" comments Simon Ittig, CEO of T3. "The support of these investors validates our work and indicates that we are on the right track. This strong setup allows us to keep focusing on our core business. Special thanks are due to our existing investors who have supported us since inception". With the addition of these two new investors, T3 has now closed its second financing round with over 12M CHF.
Collaboration with investors, a dedicated team and continued support from the Biozentrum of the University of Basel provide an excellent position for T3 to complete preclinical activities for its lead candidate, which originated from the T3 platform. T3 is developing a proprietary protein delivery technology based on live bacteria expressing the «type 3 secretion system». The company has engineered the bacteria to grow selectively within solid tumors where they produce and deliver therapeutic proteins. T3’s lead product, called T3P-Y058-739, is expected to enter clinical testing in the middle of 2020.
Dr. Frank Kalkbrenner joins board of directors
To benefit from the expertise and strategic skills of the new investors, T3 welcomes Dr. Frank Kalkbrenner, managing director of BIVF, to its board of directors. "It was not only the technology and data, but the strategy and the team of T3 that convinced us to join" says Frank Kalkbrenner.
Nomination of Chief Medical Officer, strengthening of development team and formation of clinical advisory board
Joined by two experienced drug developers, T3 gains the knowhow needed to accurately plan and conduct its clinical trials. "I am looking forward to testing this exciting and innovative approach with T3!", adds Dr. Claire Barton, the newly nominated Chief Medical Officer. Claire has been supporting the company for the last 18 months as a consultant.
For clinical operations, T3 is further supported by Dr. Gabriella Galli, who joins T3 from Amgen where she was responsible for clinical trials with the oncolytic virus T-Vec.
T3 also announces its clinical advisory board, composed of Prof. Kevin Harrington (Royal Marsden Hospital, London), Prof. Reinhard Dummer (University Hospital Zürich), Prof. George Coukos and Dr. Stefan Zimmermann (both from CHUV Lausanne), and Prof. Aurélien Marabelle (Gustave Roussy, Paris). "I am delighted to have this opportunity to assist in the clinical development of T3 in concert with a highly distinguished group of clinician scientists" comments Kevin Harrington, "The T3 treatment platform has a huge degree of novelty and the potential to be applicable across a broad range of cancer types".