According to a press release, Swiss venture capital firms BioMedPartners, Redalpine and Altos Ventures participated in the Series A financing round of 9 million Swiss francs, together with existing shareholders such as the Zürcher Kantonalbank and other private investors.
TOLREMO is a spin-off of the Federal Institute of Technology (ETH) in Zurich that develops medications to prevent drug resistance in cancer therapies. To this end, it has developed a proprietary drug-resistance screening platform, which can help identify resistance-breaking molecules.
The new capital will go towards further advancing two major drug development programmes to prevent resistance in oncogene-targeting drugs and anti-angiogenic cancer drugs.
TOLREMO also announced that it is strengthening its board of directors with Erich Greiner, CEO and co-founder of Cedrus Therapeutics; Thomas Cerny, acting president of the Swiss Cancer Research Foundation; and Andreas Wallnäfer, partner at BioMedPartners and former research head at Roche.
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