TriGemX Bio raised $94 million in financing co-led by The Column Group, TCGX, and Viking Global Investors to advance development of elismetrep, its investigational treatment for acute migraine.
The company was formerly known as Kallyope and is relaunching under the TriGemX Bio name with a sharpened strategic focus on migraine.
The financing included participation from additional investors.
TriGemX plans to use the proceeds primarily to support Phase 3 development of elismetrep, a novel oral TRPM8 channel blocker.
The first Phase 3 results for elismetrep are expected in mid-2027.
The company’s first pivotal study and a long-term safety study are already underway, while a second pivotal study is expected to begin in October 2026.
Elismetrep is designed to block TRPM8, a therapeutic target that differs mechanistically from existing migraine treatments.
TriGemX said Phase 2b data showed that elismetrep was well tolerated and reduced migraine pain and associated symptoms.
The company is also introducing a new leadership team.
Jeff Goater was appointed CEO, while Aninda Katragadda was named CFO.
Goater previously served as CEO of Surface Oncology and CFO of Voyager Therapeutics and remains a Venture Partner at The Column Group.
Katragadda most recently served as CFO of Atavistik Bio and previously held senior finance positions at Akouos, Surface Oncology, Foghorn Therapeutics, Voyager Therapeutics, The Medicines Company, and Vertex.
Cariad Chester, Managing Partner at TCGX, joined TriGemX Bio’s Board of Directors as part of the financing.
KEY QUOTES:
“Today’s announcement represents the start of an exciting new chapter for the company.”
Jeff Goater, CEO of TriGemX Bio
“We are very thankful for the support of our new and existing investors as we advance the development of elismetrep.”
Aninda Katragadda, CFO of TriGemX Bio
“Our Phase 3 program for elismetrep is well underway and we look forward to sharing initial clinical results in mid-2027.”
Brett Lauring, M.D., Ph.D., Chief Medical Officer of TriGemX Bio
“We believe elismetrep has the potential to address this need and play a foundational role in the treatment of migraine.”
Cariad Chester, Managing Partner at TCGX
