Announcements and Updates

TOLREMO raises CHF 9 million series A financing round and strengthens Board of Directors with industry experts

Zurich, September 24th 2018. TOLREMO therapeutics AG (“TOLREMO”), a privately held

Swiss biotech company, announced today the completion of an oversubscribed series A

financing round of CHF 9.0 million (USD $9.3 million). The Swiss venture capital firm

BioMedPartners led the round and was joined by the Swiss venture capital firms Redalpine

and Altos Venture, as well as TOLREMO’s existing shareholders including the Swiss bank

Zürcher Kantonalbank and several experienced biotech investors. The capital increase will

allow the ETH Spin-off to further advance two major drug development programs to

prevent drug resistance in cancer therapies.

The capital increase follows a successful fundraising of CHF 2.4 million one year ago, which

was used to validate the company’s proprietary drug resistance screening platform, license

additional IP, initiate a second R&D program, and identify first resistance-breaking lead


TOLREMO also announced the strengthening of its Board of Directors by Dr. Erich Greiner,

an advisor to several public and private funds in the US and Europe and CEO/founder of

Cedrus Therapeutics; and Prof. em. Thomas Cerny, former head physician for oncology and

haematology at the Cantonal Hospital of St. Gallen and acting president of national

foundation for Cancer Research in Switzerland. Dr. Andreas Wallnöfer, former Head

of Clinical Research & Exploratory Development at Roche Pharma and General Partner at

BioMedPartners will join the Board to represent the lead investor.

“We are thrilled about the great interest our financing round has received from the private

and professional investor community. We greatly appreciate the continued support of our

shareholders and we are excited to have attracted internationally renowned investment

firms like BioMedPartners, Redalpine, and Altos Venture,” commented Dr. Stefanie

Flückiger-Mangual, CEO and co-founder of TOLREMO. “Together with the addition of

world-leading industry experts to our board of directors, this validates the growing interest

in the unique drug resistance platform we have built. We aim to use our resistance-breaking

molecules to make the therapeutic response to existing cancer drugs more durable. The

additional funding will allow us to further accelerate our pioneering work in this field and to

rapidly achieve key milestones in our preclinical development programs.”

TOLREMO therapeutics AG I c/o ETH Zurich I Molecular Health Sciences I HPL H16.2 I Otto-Stern-Weg 7 I 8093 Zurich I Switzerland

Dr. Andreas Wallnöfer, General Partner at BioMedPartners added: “This is an exciting time

to become involved with TOLREMO. The company’s add-on therapies could introduce a

paradigm change in cancer therapy by allowing to address drug resistance proactively

before it can genetically develop. The innovative and distinguished scientific foundation

paired with the strong ETH spin-off team made this an attractive investment for

BioMedPartners. We have been following TOLREMO since last year, and after a thorough

due diligence we were impressed by the progress the company has made in this short time.

We are excited to bring our management and industry expertise into an already very

experienced board of directors.”

TOLREMO’s Board of Directors:

Dr. Isaac Kobrin: co-founder and Chairman of the board. Former international group leader

at Roche responsible for the worldwide clinical development of key cardiovascular

compounds from Phase I to market approval. In his last position, Head of Clinical

Development and Chief Medical Officer of Actelion Pharmaceuticals Ltd.

Dr. Stefanie Flückiger-Mangual: co-founder, CEO and board member. PhD from ETH Zurich

in Molecular and Translational Biomedicine. Led the team of scientists who discovered

novel drug resistance mechanisms in cancer.

Prof. Dr. Karl-Heinz Altmann: co-founder & board member. ETH Full Professor of

Pharmaceutical Sciences. After 13 years of experience in Pharma industry, he was last acting

as Global Head of Chemistry at Novartis Institutes for BioMedical Research (NIBR).

Dr. Erich Greiner: board member. Advisor to several US and European public and private

funds, CEO & founder of Cedrus Therapeutics Inc., before he held various senior positions

within Evotec, in his last role as Chief Innovation Officer and Member of the Management

Team of Evotec.

Prof. em. Thomas Cerny: board member. Former head physician for Oncology and

Haematology at the Cantonal Hospital of St. Gallen. He is acting president of the national

foundation for Cancer Research in Switzerland and board member of the Human

Medicine Expert Committee (HMEC) of Swissmedic.

Dr. Andreas Wallnöfer: board member. General Partner at BioMedPartners. Former Head

of Roche Clinical Research & Exploratory Development and then Head of Early

Development; Member of the Global R&D Leadership Team for more than 12 years at F.

Hoffmann-La Roche Ltd.

TOLREMO therapeutics AG I c/o ETH Zurich I Molecular Health Sciences I HPL H16.2 I Otto-Stern-Weg 7 I 8093 Zurich I Switzerland

For further details, please contact:

Dr. Stefanie Flückiger-Mangual, CEO and co-founder


TOLREMO therapeutics AG (“TOLREMO”) is a Swiss biotechnology company that was spun

out of ETH Zurich in 2017. Based on cutting-edge science and guided by pioneering realworld

medicine, TOLREMO created a broad cancer drug resistance platform that provides a

unique entry point into a major clinical problem. In two parallel R&D programs the company

develops resistance-breaking add-on therapies that extend the therapeutic benefit of

oncogene-targeting cancer drugs (Adaptive Drug Resistance Program) and anti-angiogenic

cancer drugs (Hypoxia-Driven Drug Resistance Program). TOLREMO’s unique drug

resistance platform has the potential to catalyze a new wave of potent resistance-breaking

molecules that will meaningfully extend the lives of patients suffering from cancer. To learn

more, visit

About BioMedPartners

Based in Basel, BioMedPartners is a leading, independent European venture capital firm

that acts frequently as lead-or co-lead investor providing private equity to early- to midstage

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.