TRIO Pharmaceuticals – a biotechnology company pioneering bispecific antibodies for cancer treatment with unprecedented potency and selectivity – announced the completion of a $3.1 million financing round. TRIO’s pre-Series A financing was led by the San Diego-based Friedman Bioventure Fund (FBVF).
Additional significant support came from the Multiple Myeloma Research Foundation (MMRF), through its venture philanthropy arm, the Myeloma Investment Fund (MIF), validating the potential of TRIO’s work to impact cancers with high unmet needs. Further investors included NuFund Venture Group, Life Science Angels, and others.
Friedman Bioventure brings expertise in supporting innovative biotech startups, aiming to accelerate breakthrough therapies to market. And the Myeloma Investment Fund focuses on advancing treatments for cancers affecting blood and bone marrow, notably multiple myeloma.
The Multiple Myeloma Research Foundation (MMRF) is the largest nonprofit in the world, and it is solely focused on accelerating a cure for every multiple myeloma patient. MMRF has raised $600+ million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market.
TRIO Pharmaceuticals’ proprietary platforms, TRAILBody and TIE-ADC, are advancing next-generation immunotherapies for cancers with high mortality rates, like Multiple Myeloma, Acute Myeloid Leukemia, ovarian, endometrial, and triple-negative breast cancers. And these therapies combine targeted tumor growth inhibition with immune system modulation to offer potent, less toxic options compared to conventional treatments.
TRIO Pharmaceuticals is focused onreimagining cancer care through the application of novel antibody therapeutics. This funding will accelerate TRIO’s journey towards clinical trials, offering new hope for patients facing cancers that resist standard therapies.
KEY QUOTES:
“The TRIO team has demonstrated impressive bioactivity for both their TRAILBody and TIE-ADC bispecific antibody architectures, and we believe these potential medicines warrant accelerated development.”
- Dr. Jeff Friedman of FBVF
“TRIO’s innovative approach aligns with our mission to drive breakthrough treatments for the myeloma community. This investment underscores our commitment to accelerating therapeutic options for myeloma patients.”
- Dr. Stephanie Oestreich, Managing Director, Myeloma Investment Fund
“This financing round empowers us to expand our preclinical activities and advance our programs towards clinical development. The support from organizations like Friedman Bioventure and the Myeloma Investment Fund is invaluable as we work to bring our transformative therapies closer to patients in need.”
- Dr. Reiner Laus, CEO of TRIO Pharmaceuticals
