TrimTech Therapeutics announced an additional $14 million in seed funding, bringing the round to $47 million (£35 million).
The extension was led by Johnson & Johnson Innovation, JJDC, Inc., and BGF, who join existing investors including Cambridge Innovation Capital, DDF, M Ventures, Pfizer Ventures, Eli Lilly and Company, MP Healthcare Venture Management and Cambridge Enterprise Ventures.
The company says the new financing will support advancement of its TRIMTAC and TRIMGLUE targeted protein degradation platforms and development of CNS-penetrant degraders.
TrimTech was founded on academic research into the E3 ligase TRIM21; the company claims its degraders can selectively remove toxic protein aggregates and oligomers while sparing functional monomeric forms, which it positions as a potential small-molecule approach for large neurodegenerative indications.
Representatives from JJDC and BGF will join the board as non-executive directors following the seed extension, and the funds will accelerate progression of the company’s differentiated portfolio, according to the company.
