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February 07, 2018

T3 Pharma qualifies for BaseLaunch funding program

T3 Pharmaceuticals, a spin-off from the Biozentrum of the University of Basel, has been selected for the second phase of the BaseLaunch start-up funding program. The biopharmaceutical company develops novel therapies for the treatment of cancer.

Simon Ittig, CEO of T3 Pharmaceuticals (left) and Christian Schneider, Head of Innovation & Corporate Relations, University of Basel (Photo: Christian Flierl).

The BaseLaunch program was launched in 2017 as an initiative of BaselArea.swiss, the office for business promotion for Northwestern Switzerland, with the aim of strengthening the start-up scene in the Basel region and supporting promising young entrepreneurs. T3 Pharmaceuticals AG qualified for the second and final stage of the program from among over one hundred applicants and, as part of this, will receive a grant.
 
“We are very pleased about this positive signal," says Dr. Simon Ittig, CEO and co-founder of the start-up. “Our company will benefit from this in many ways. Not only the financial support, but also access to the industry network, market know-how, scientific input and the exchange with pharmaceutical companies will help us to achieve our goals". In addition to T3 Pharma, the companies Anaveon, Tepthera, TheraNASH, Polyneuron Pharmaceuticals and Versameb were also included in the second funding stage.

T3P vision: Targeted cancer treatment using live bacteria
The founders of the company, Dr. Simon Ittig and Dr. Christoph Kasper, both former post-doctoral fellows from the Biozentrum of the University of Basel, have dedicated themselves to developing a new generation of cancer treatments. Using living bacteria, they aim to introduce therapeutic proteins into cancer cells, in order to specifically and effectively fight cancer. “One of our next steps is to find a stable and durable formulation for the bacteria," says Ittig. “This is a crucial step, because only then we can bring our therapeutic drug to the patients in the clinics. The funding we have been awarded will support us in achieving this goal." 

T3 Pharma was founded in 2015 as a spin-off from the Biozentrum, University of Basel. The founders' vision is to develop a novel therapeutic approach to improve the lives of cancer patients. Although, in recent years, significant progress has been achieved with classical cancer therapies, there is still a great need for innovative drugs to specifically treat certain types of tumors. T3 Pharma would like to contribute to this development with its immuno-oncological approach.

BaseLaunch: New instrument for promoting start-ups in the region 
BaseLaunch, initiated and operationally managed by BaselArea.swiss, is helping to accelerate the development of promising and innovative healthcare start-ups. Young entrepreneurs are given the opportunity to participate in the life sciences value chain and benefit from the experience of the supporting companies and consultants. The companies selected for the second stage, will receive non-dilutive funding of up to 250,000 Swiss francs. Europe's leading multi-corporate accelerator is supported by healthcare partners Novartis Venture Fund, Johnson & Johnson Innovation and Pfizer, as well as other public and private partners.

Contact: Communications, Katrin Bühler