T3 BioScience Successfully Concludes its Planned Capital Increase
UWM and Duke startup T3 BioScience successfully concludes its planned capital increase on July 25, 2017 – accelerating its R&D development plans Milwaukee, August 1, 2017 – T3 BioScience announces the successful closure of its capital increase on July 25, 2017. The (undisclosed) raised capital will empower the biotech firm to execute its product and business strategy.
The new financial resources will allow the acceleration of T3 BioScience’s research and discovery program for both its medical- and agriculture product development. This announcement coincides with T3’s successful third year of field testing for its agricultural product T3 Protect, which fights the devastating fire blight disease on fruit trees.
Daniel Bürgin, CEO of T3 BioScience commented: “The success of the capital increase from new and existing investors across Asia and the US, testifies to their confidence in T3 BioScience’s growth plans. The additional capital empowers our Firm to strategically and independently invest into our scientific product research, as well as grow our assets by filing new patents for emerging new products. This includes planned EPA approvals for agricultural products as well as preclinical trials for our leading medical compounds.We would like to take the opportunity and thank our shareholders for their loyalty and thank both new and existing shareholders, for embracing T3 BioScience’s development plans.”
T3Bioscience LLC specializes in developing antivirulence drugs for fighting the gram-negative bacterial pathogens in humans and crops by targeting the type 3 secretion system of bacterial virulence. Its medical R&D main focus is on the discovery of novel antibiotics. Established in 2013, the company’s shareholders include the UWM Research Foundation and Duke Philanthropies. Chief Science Officer, Dr. Ching-Hong Yang, is applying more than 15 years of microbiological research to treating bacterial infection without increasing resistance to conventional antibiotics.
For more information: www.t3biosci.com