Biotech 'forges ahead' with £38 million funding boost

A Cambridge-based biotechnology company has secured additional funding to accelerate the development of treatments for neurodegenerative diseases.

TRIMTECH Therapeutics has raised a further $14 million (£10.4 million), bringing its total seed funding round to $47 million (£35 million).

The investment was led by Johnson & Johnson Innovation – JJDC and BGF, which join an existing syndicate of life sciences investors backing the business.

Founded on research into the protein TRIM21, TRIMTECH is developing small molecule therapies designed to target and degrade harmful protein aggregates linked to conditions such as Alzheimer’s disease.

The funding will support the advancement of the company’s proprietary TRIMTAC and TRIMGLUE platforms, while representatives from JJDC and BGF will join its board as non-executive directors.

Dr Nicki Thompson, chief executive of 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.”

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