TRIMTECH Therapeutics raises $31M seed funding to advance targeted protein degradation pipeline for treatment of neurodegenerative diseases
TRIMTECH Therapeutics raised $31 million (£25 million) in seed funding.
The financing was led by Cambridge Innovation Capital and SV Health Investors' Dementia Discovery Fund, with M Ventures and Pfizer Ventures joining.
Additional investors include Eli Lilly and Company, MP Healthcare Venture Management, Cambridge Enterprise Ventures, and Start Codon.
The funding will support development of TRIMTECH's pipeline of CNS-penetrant therapeutics based on its TRIMTAC aggregate-selective degrader molecules.
The pipeline is focused on treatments for severe neurodegenerative and inflammatory disorders, including Alzheimer's and Huntington's disease.
TRIMTECH is leveraging the properties of the E3 ubiquitin ligase TRIM21 to selectively degrade protein aggregates associated with neurodegenerative diseases.
The company was founded by Cambridge Innovation Capital and the Dementia Discovery Fund along with academic co-founders from MRC Laboratory of Molecular Biology and University of Cambridge.