Trimtech Therapeutics, a university spinout biotech, has raised £25m in seed round co-led by Cambridge Innovation Capital.
The investment will support the Cambridge startup’s development of treatments for neurogenerative diseases like dementia, based on targeted protein degradation.
The seed round marks the latest spinout backed by Cambridge Innovation Capital since the launch of its £100m fund last month.
“CIC is proud to have been part of the creation of Trimtech and co-led this financing round,” said Michael Anstey, a partner at Cambridge Innovation Capital.
“With over 55 million people affected by Alzheimer’s and millions more battling other neurodegenerative disorders, this groundbreaking innovation has the potential to transform the course of treatment for these patients.”
The fund was launched to provide a domestic source of capital for deep tech companies in the University of Cambridge ecosystem. These companies often have to seek investment overseas or even uproot operations to places like the US to scale.
Cambridge Innovation Capital was joined in leading this round by the Dementia Discovery Fund from SV Health Investors.
“The team at DDF is thrilled to co-lead the creation of Trimtech to advance its TRIMTAC platform,” said Laurence Barker, a partner at SV Health Investors’ Dementia Discovery Fund.
“While targeted protein degradation has revolutionized drug discovery, effective clearance of protein aggregates remains a major challenge. Trimtech’s differentiated approach directly addresses this gap, opening new possibilities for treating neurodegenerative conditions and beyond.”
Other participants in the round included Pfizer Ventures, M Ventures, Eli Lilly and Company, MP Healthcare Venture Management, Cambridge Enterprise Ventures, and Start Codon.
Founded in 2023, Trimtech is researching how to selectively degrade proteins associated with a range of diseases.
Nicola Thompson, CEO of Trimtech Therapeutics, said: “This oversubscribed financing round and the outstanding quality of our investor syndicate is a great endorsement of Trimtech’s unique approach to targeting the selective removal of aggregated proteins that underpin so many CNS diseases, and recognizes our impressive scientific foundations and world class team.”
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