TrimTech Therapeutics, a biotech company that uses targeted protein breakdown (TPD) for the treatment of neurodegenerative diseases, has today announced the closure of the seed financing round of $ 31 million (£ 25 million). The financing was led by Cambridge Innovation Capital (CIC) and SV Health Investors’ Dementia Discovery Fund (DDF), where M Ventures and Pfizer Ventures join. Extra investors are also Eli Lilly and Company, MP Healthcare Venture Management (MPH), Cambridge Enterprise Ventures and Start Codon.
The investment will support the further development of the growing pipeline of the company of powerful, central nervous system (central nervous system) Penetant Therapeutica based on the aggregate-selective degradermolecules known as trimtacs. The pipeline is aimed at the development of treatments for serious neurodegenerative and inflammatory disorders, including Alzheimer’s disease and Huntington.
TrimTech uses the congenital properties of the E3 Ubiquitin -Slagase -Trim21 to break down proteinaggregates associated with a series of diseases selective and powerfully that are not properly operated by current TPD approaches. This new approach approaches the unique properties of Trim21 in the form of the TrimTac degrader molecules of the company to develop medicines that meet the needs of large patient populations with limited treatment options.
The company was founded by CIC and DDF in collaboration with their joint entrepreneur-in-residence, Damian Crowther and academic co-founders Leo James (MRC Laboratory or Molecular Biology) and Will Mcewan (UK Dementia Research Institute at Cambridge University).
TrimTech has also appointed the following leading managers of Life Science at the board of directors: Michael Anstey, partner at Cambridge Innovation Capital); Laurence Barker, partner at SV Health Investors (SV); Hakan Goker, director of M Ventures; Jeffrey Moore, president at MP Healthcare Venture Management; Marie-Claire Peakman, partner at Pfizer Ventures.
‘These oversubs described financing round and the excellent quality of our investor syndicate is a great approval of the unique approach of Trimtech to focus on the selective removal of aggregated proteins that underlie so many CNS diseases and recognize our impressive scientific foundations and team of world classse. We thank all our supporters and look forward to working with the new board members, while we are now continuing to progress of the pipeline.“
Nicola Thompson, CEO, Trimtech Therapeutics
‘The DDF team is delighted to lead the establishment of Trimtech to promote its TrimTac platform, that the unique capacity of Trim21 to break down aggregated proteins, while retaining functional monomers. Although targeted protein breakdown has caused a revolution in the discovery of medicines, the effective clearance of proteinaggregates remains a major challenge. The differentiated approach of Trimtech goes directly to this gap, so that new possibilities are opened for the treatment of neurodegenerative disorders and then. “
Laurence Barker, partner, SV Health Investors’ Dementia Discovery Fund
‘CIC is proud to be part of the establishment of Trimtech and has led this financing round. With more than 55 million people affected by Alzheimer’s and millions more fighting against other neurodegenerative disorders, this groundbreaking innovation has the potential to transform treatment of treatment for these patients. ”
Michael Anstey, partner, Cambridge Innovation Capital