TRIMTECH Therapeutics, a biotechnology company developing novel small molecule therapies that target and degrade protein aggregates associated with neurodegenerative diseases, has raised an additional £11 million in seed funding, bringing the total for the round to £35 million. The financing was led by Johnson & Johnson Innovation - JJDC, Inc. (JJDC) and BGF, who join existing investors Cambridge Innovation Capital, DDF, M Ventures, Pfizer Ventures, Eli Lilly and Company, MP Healthcare Venture Management, and Cambridge Enterprise Ventures. The new funding will support TRIMTECH as it progresses its proprietary platforms and differentiated portfolio.
Founded on decades of pioneering academic research into the protein TRIM21, a novel E3-ligase, TRIMTECH has demonstrated that its TRIMTAC and TRIMGLUE degraders can selectively degrade toxic protein aggregates and oligomers whilst leaving the functional monomeric forms of these proteins intact to support healthy cellular function. This approach opens up small molecule routes for indications that affect very large patient populations. Over 55 million people are affected by Alzheimer's disease, with millions more battling other neurodegenerative disorders.
Following the seed extension round, representatives from JJDC and BGF will join the TRIMTECH Therapeutics board as non-executive directors.
We welcome JJDC and BGF as investors in our seed financing round and thank them for their support. This additional funding allows us to forge ahead with developing our portfolio of CNS penetrant degraders based on our unique platforms. TRIMTECH has incredibly strong scientific foundations combined with a world leading team augmented by a globally recognised investor syndicate – I'm excited to work with this exceptional group, to deliver the next phase of growth for the company.
