Zurich, September 18th 2017. TOLREMO therapeutics AG (“TOLREMO”), a privately held research-stage biotechnology company, announced today the completion of a fundraiser with private investors of 2.4 million Swiss Francs. The proceeds will be used to advance the company’s discovery and development of breakthrough medicines to target drug resistance in cancer therapy.
Dr. Stefanie Flückiger-Mangual, Chief Executive Officer and co-founder of TOLREMO, commented: “Cancer patients often respond favorably to modern therapies, but in many cases long-term survival is limited by the development of drug resistance. During several years of research at ETH Zurich, we discovered that, surprisingly, the development of drug resistance already starts early on following initiation of cancer therapy. We have developed a deep understanding of the molecular mechanisms involved in this and our goal is to intervene with these mechanisms in order to eradicate the seed of drug resistance and extend patient survival.”
TOLREMO’s science-based drug discovery and development pipeline is fueled by a unique drug screening platform for which a patent has been filed. In addition to discovering and developing novel anti-drug resistance molecules, the platform is also used to identify novel ways of combining approved drugs to prevent drug resistance in cancer therapy.
Dr. Isaac Kobrin, Chairman of the Board and a co-founder of TOLREMO, commented: “We believe that TOLREMO is poised to reach several key milestones in the development of novel cancer therapies within the next 12 to 18 months. The currently raised funds of 2.4 million Swiss Francs are expected to cover that period and prepare the grounds for the future growth of the company.”