Date: 2012-01-10
Type of information: Establishment of a new subsidiary in the EU
Company: Telormedix (Switzerland)
Investors: Aravis Venture ( Switzerland) - Proquest Investments (USA)
Amount: CHF 7.5 Million (€6.1million)
Funding type:
Planned used: The money raised in this financing round will be used to further advance Telormedix’s promising product candidates through preclinical and clinical trials. TMX-101, the Company’s lead product, is in a Phase I/II clinical trial for the treatment of Non-Muscle Invasive Bladder Cancer (NMIBC). In addition, the Company achieved significant preclinical results in October 2011 for TMX-202, a compound developed for the safe and effective topical treatment of skin cancer. Telormedix also plans to use the funds to support the development of additional promising molecules.
Others: Telormedix, a clinical stage biopharmaceutical company focused on TLR7 agonists in the treatment of cancer and inflammatory diseases, has raised 7.5 Million CHF from existing investors Aravis Venture and Proquest Investments.
Last October, Telormedix has achieved significant preclinical results for TMX-202, a compound developed for the safe and effective topical treatment of skin cancer. The preclinical study evaluated TMX-202 as a topical skin cancer treatment in a mouse skin cancer model and showed that it had both better efficacy and better tolerability than the current gold standard treatment for skin cancer, Imiquimod/Aldara®. Unlike Imiquimod, TMX-202 did not interact with adenosine receptors or other pain associated receptors (Na+ channels). TMX-202 has previously been shown to penetrate both human and pig skin, inducing inflammatory cell infiltration and topical treatment causes low systemic, pro-inflammatory cytokines when compared to Imiquimod.
The molecule activates Toll-like Receptor 7 (TLR7) with high selectivity, inducing a prolonged but reversible production of cytokines in vivo. In cellular assays, TMX-202 showed 2-3 logs of enhanced potency as compared to Imiquimod, the active ingredient of Aldara®.
Therapeutic area: Cancer - Oncology - Inflammatory diseases
