Zurich spin-out closes CHF 10M first round

First-round investment

CT Atlantic AG has announced the completion of a CHF 10 million (€6.8 million) first-round funding investment from QureInvest AG, enabling the Zurich University start-up to begin commercialisation of its novel immune system approaches to treating cancer.

The company’s R&D is run by Alexander Knuth, Head of the Department of Oncology at the University Hospital in Zurich, who is affiliated with the Ludwig Institute for Cancer Research in New York. Knuth has been a leader in clinical research on cancer vaccines for the past twenty years.

Both institutions have contributed substantial intellectual property and know-how to CT Atlantic, which will focus on developing vaccines based on antibodies derived from cancer patients.

CT Atlantic is the first investment made by QureInvest, a specialist biotech investment company based in Zurich. The proceeds of this financing event will be used to advance CT Atlantic's research and technology programmes, with the aim of sealing a strategic alliance with a major pharmaceutical company active in the field of immunotherapy.

Edward Stuart, founding CEO of CT Atlantic, said, “The industry currently faces a number of pressing issues, including the need for innovative and safe drug candidates to fill pipelines and replace products coming off patent. At the same time, many biotech companies are unable to access sufficient financial resources to support the preclinical and clinical development of their products.”