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 organisation, Johnson & Johnson Innovation – JJDC, Inc. (“JJDC”) and BGF, who joined 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.
Dr Nicki Thompson, CEO, TRIMTECH Therapeutics, said: “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.“
Following this seed extension round, representatives from JJDC and BGF, will join TRIMTECH Therapeutics Board as non-executive directors.
