TriGemX Bio raises $94M to push migraine drug through Phase 3
What's the deal? TriGemX Bio, the New York-based biotechnology company formerly known as Kallyope, has raised $94 million. The round was co-led by The Column GroupDealroom has a profile for this one. Try Dealroom →, TCGXDealroom has a profile for this one. Try Dealroom →, and Viking Global InvestorsDealroom has a profile for this one. Try Dealroom →, with participation from additional investors.
What's the endgame? The company will use the funds to advance elismetrep, its lead program and an oral TRPM8 channel blocker now in Phase 3 trials for the acute treatment of migraine.
What does it do? Led by chief executive officer Jeff Goater, TriGemX develops medicines by targeting neural signaling pathways. Its platform focuses on migraine-relevant structures such as the trigeminal ganglion.
The signal: Backing from three co-leads to fund a late-stage trial signals investor confidence in novel, oral migraine therapies — and in a company willing to rebrand around a single lead candidate.
Read more: finsmes.com
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