TRIMTECH Therapeutics Brings Total Seed Round to $47M with Additional Investment of $14M to Further Develop TRIMTAC and TRIMGLUE Targeted Protein Degradation Portfolio
Johnson & Johnson’s corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc. (“JJDC”), and BGF join existing investors Cambridge Innovation Capital, DDF, M Ventures, Pfizer Ventures, Eli Lilly and Company, MP Healthcare Venture Management (MPH), Cambridge Enterprise Ventures
TRIMTECH Therapeutics (TRIMTECH or the Company), a biotechnology company developing novel small molecule therapies that target and degrade protein aggregates associated with neurodegenerative diseases, today announced it has raised an additional $14 million in seed funding, bringing the total for the round to $47 million (£35 million). The financing was led by Johnson & Johnson’s corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc. (“JJDC”), and BGF, who join existing investors. This new funding will support the Company 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 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 opens up much needed small molecule approaches for indications that affect very large populations. With over 55 million people affected by Alzheimer’s disease and millions more battling other neurodegenerative disorders, this groundbreaking innovation has the potential to transform the course of treatment for these patients.
