TRIMTECH raises $31m from Cambridge UK and US backers
The raise was led by Cambridge Innovation Capital (CIC) and Boston & London-based SV Health Investors’ Dementia Discovery Fund (DDF) with M Ventures in the US and Pfizer Ventures in New York joining.
Additional investors include Eli Lilly and Company (US), MP Healthcare Venture Management (Boston), Cambridge Enterprise Ventures and Start Codon – now part of the CIC stable in Cambridge.
The money 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 a number of leading life science executives to the Board: Michael Anstey, Partner at CIC; Laurence Barker, Partner at SV Health Investors; Hakan Goker, Managing Director at M Ventures; Jeffrey Moore, President at MP Healthcare Venture Management; and 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.”
Michael Anstey said: “CIC is proud to have been part of the creation of TRIMTECH and co-led this financing round. With over 55 million people affected by Alzheimer’s and millions more battling other neurodegenerative disorders, this groundbreaking innovation has the potential to transform the course of treatment for these patients.”
TRIMTECH is based at Jeffrey Cheah Biomedical Centre at Cambridge Biomedical Campus.
