A Cambridge-based biotechnology company has raised an additional $14m in seed funding, bringing the total for the round to $47m (£35m).
TRIMTECH Therapeutics is developing novel small molecule therapies that target and degrade protein aggregates associated with neurodegenerative diseases.
The business was founded in 2023 by its academic co-founders Leo James, PhD FRS (MRC Laboratory of Molecular Biology) and Will McEwan, PhD (UK Dementia Research Institute, University of Cambridge), with Cambridge Innovation Capital (CIC) and SV Health Investors’ Dementia Discovery Fund (DDF) in conjunction with their joint entrepreneur-in-residence, Dr Damian Crowther.
The financing was led by Johnson & Johnson’s corporate venture capital organisation, Johnson & Johnson Innovation – JJDC, Inc, and BGF, which joins existing investors.
The new funding will support TRIMTECH as it progresses its proprietary platforms and differentiated portfolio.
With more than 55 million people affected by Alzheimer’s disease and millions more battling other neurodegenerative disorders, TRIMTECH’s innovative products have the potential to transform the course of treatment for these patients.
Dr Nicki Thompson, chief executive at 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.