TRIMTECH Therapeutics, a biotechnology company developing novel small molecule therapies to target and degrade protein aggregates associated with neurodegenerative diseases, today announced that it has raised an additional $14 million in seed funding, bringing the total 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 joining existing investors. This new funding will support the company in advancing its unique platform and differentiated portfolio.
Founded on decades of pioneering academic research on the protein TRIM21, a novel E3 ligase, TRIMTECH has demonstrated that its TRIMTAC® and TRIMGLUE® degraders can selectively degrade toxic protein aggregates and oligomers while leaving the functional monomeric forms of these proteins intact and supporting healthy cellular function. This opens up much-needed small molecule approaches for indications that affect very large populations. With more than 55 million people living with Alzheimer’s disease and millions more battling other neurodegenerative diseases, this breakthrough innovation has the potential to change the way these patients are treated.
We welcome JJDC and BGF as investors in our seed financing round and thank them for their support. This additional funding will enable us to advance the development of our portfolio of CNS osmotic degraders based on our proprietary platform. TRIMTECH has an incredibly strong scientific foundation, a world-leading team, and a team powered by a :censed:6:cdd6bbaa89:ly recognized investor syndicate. We are excited to work with this great group to deliver the company’s next phase of growth. ”
Dr. Nikki Thompson, TRIMTECH Therapeutics CEO
Following this seed extension round, representatives from JJDC and BGF will join the TRIMTECH Therapeutics Board as non-executive directors.
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Trimtech Therapeutics Co., Ltd.
