Tolremo Therapeutics AG. (6/9/20). "Press Release: Tolremo Receives Additional CHF 4.7M in Series A Financing, Bringing Total Series A Round to CHF 13.7M". Muttenz.

	Organisation	Tolremo Therapeutics AG
	Organisation 2	BioMedPartners AG
	Group	BioMedPartners (Group)
	Product	cancer drug
	Product 2	venture capital
	Index term	Tolremo Therapeutics–SEVERAL: investment, 202006 financing round Series A 2nd closing CHF4.7m bringing total Series A to CHF13.7m
	Person	Flückiger-Mangual, Stefanie (201809 CEO + Co-Founder)
	Person 2	Ambros, Reinhard (Versameb 201910c Board Chairman + Novartis Venture Fund)

TOLREMO therapeutics AG (“TOLREMO”), a privately held Swiss biotechnology company developing resistance-preventing precision therapies for patients with cancer, announced today a second closing of its Series A round totaling CHF 13.7M (USD $14.2M).

The second closing was led by Swiss venture capital firms BioMedPartners AG and Altos Venture AG. Existing participating investors included the Swiss venture capital firm Redalpine Venture Partners AG as well as the Swiss bank Zürcher Kantonalbank and several experienced private biotech investors.

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 Dr. Stefanie Flückiger-Mangual, CEO and co-founder of TOLREMO. TOLREMO also announced the appointment of Dr. Reinhard Ambros, former Global Head of the Novartis Venture Fund, as Chairman of the Board as well as Dr. Guido Hartmann, former Head of Pharmacology at Therachon AG (acquired by Pfizer in 2019), as COO/Head Translational Sciences.

Dr. 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.”

For further details, please contact:

Dr. Stefanie Flückiger-Mangual, CEO and co-founder
stefanie.flueckiger@tolremo.com

About TOLREMO

TOLREMO therapeutics AG (“TOLREMO”) is a Swiss biotechnology company that was spun out of ETH Zurich in 2017. TOLREMO was founded on pioneering expertise in non-mutational drug resistance to deliver a new wave of resistance-preventing precision therapies to patients with cancer. The company’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. TOLREMO’s therapies aim to complement standard cancer therapies to offer better response rates, longer survival and an improved quality of life. To learn more, visit www.tolremo.com.

About BioMedPartners

Based in Basel, BioMedPartners AG is a leading, independent European venture capital firm that acts frequently as lead-or co-lead investor providing private equity to early- to mid-stage life sciences companies. Since 2002, BioMedPartners has invested in several highly innovative companies of which 20 have already either successfully been acquired by leading biopharma companies or have completed an IPO.

With more than CHF 350 million in capital under management and a strong team of experienced industry experts as well as an extensive scientific network, BioMedPartners has established itself as one of the leading early-stage human healthcare investors in Europe. In February 2017 the company announced the first closing of BioMedInvest III, their third equity venture capital fund, with the final closing in February 2018 at CHF 100 million. To learn more, visit www.biomedvc.com.

TOLREMO therapeutics AG I Hofackerstrasse 40B I 4132 Muttenz I Switzerland
www.tolremo.com

Record changed: 2023-06-05