Biotech firm Trimtech Therapeutics has raised an additional $14m (£10.6m) in seed funding, bringing the total for the round to $47m (£35.6m).
Trimtech Therapeutics is creating novel, highly selective, small molecule targeted protein degraders to combat neurodegenerative and inflammatory diseases.
With over 55 million people affected by Alzheimer’s disease and millions more diagnosed with other neurodegenerative disorders, the startup says its innovation has the potential to transform the course of treatment for these patients.
The extra financing was led by Johnson & Johnson’s corporate venture capital organisation, Johnson & Johnson Innovation – JJDC, and BGF, who joined existing investors. Last year, Trimtech raised £25m in a seed round co-led by Cambridge Innovation Capital.
The new funding will support the company as it progresses its proprietary platforms and differentiated portfolio.
“This additional funding allows us to forge ahead with developing our portfolio of CNS penetrant degraders based on our unique platforms,” says Nicki Thompson, CEO at Trimtech Therapeutics.
“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.”
