TRIMTECH Therapeutics, a biotech company harnessing targeted protein degradation (TPD) for the treatment of neurodegenerative diseases, today announced the closing of its $31 million (£25 million) seed funding round.
TRIMTECH Therapeutics
The financing was led by Cambridge Innovation Capital (CIC) and SV Health Investors’ Dementia Discovery Fund (DDF), with M Ventures and Pfizer Ventures joining. Additional investors also include Eli Lilly and Company, MP Healthcare Venture Management (MPH), Cambridge Enterprise Ventures, and Start Codon.
The investment will support further development of the Company’s growing pipeline of potent, CNS (central nervous system) penetrant therapeutics based on its aggregate-selective degrader molecules known as TRIMTACs. The pipeline is focused around the development of treatments for severe neurodegenerative and inflammatory disorders, including Alzheimer’s and Huntington’s disease.
TRIMTECH is leveraging the innate properties of the E3 ubiquitin ligase TRIM21 to selectively and potently degrade protein aggregates associated with a range of diseases which are not well served by current TPD approaches. This novel approach harnesses TRIM21’s unique properties in the form of the Company’s TRIMTAC degrader molecules to develop medicines that address the needs of large patient populations with limited treatment options.
The Company was founded by CIC and DDF in conjunction with their joint entrepreneur-in-residence, Damian Crowther, and academic co-founders Leo James (MRC Laboratory of Molecular Biology) and Will McEwan (UK Dementia Research Institute at the University of Cambridge).
TRIMTECH has also appointed the following leading life science executives to the board of directors: Michael Anstey, partner at Cambridge Innovation Capital); Laurence Barker, partner at SV Health Investors (SV); Hakan Goker, managing director at M Ventures; Jeffrey Moore, president at MP Healthcare Venture Management; Marie-Claire Peakman, partner at Pfizer Ventures.
Nicola Thompson, CEO, TRIMTECH Therapeutics, said: “This oversubscribed financing round and the outstanding quality of our investor syndicate is a great endorsement of TRIMTECH’s unique approach to targeting the selective removal of aggregated proteins that underpin so many CNS diseases, and recognises our impressive scientific foundations and world class team. We extend our thanks to all of our supporters and look forward to working with the new Board members, as we now push forward with progressing the pipeline.”