SAN DIEGO--(BUSINESS WIRE)--TRIO Pharmaceuticals, Inc., a biotechnology company pioneering bispecific antibodies for the treatment of cancer with unprecedented potency and selectivity, announced the successful completion of a $3.1 million financing round. TRIO’s pre-Series A financing was led by San Diego based Friedman Bioventure Fund (FBVF). “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,” said Dr. Jeff Friedman of FBVF.
Additional significant support came from the Multiple Myeloma Research Foundation (MMRF), through its venture philanthropy arm, the Myeloma Investment Fund (MIF), underscoring 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. 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 solely focused on accelerating a cure for each and every multiple myeloma patient. MMRF has raised over $600 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market.
“TRIO’s innovative approach aligns with our mission to drive breakthrough treatments for the myeloma community,” said Dr. Stephanie Oestreich, Managing Director, Myeloma Investment Fund. “This investment underscores our commitment to accelerating therapeutic options for myeloma patients.”
TRIO Pharmaceuticals’ proprietary platforms, TRAILBody™ and TIE-ADC™, are advancing next-generation immunotherapies for cancers with high mortality rates, such as Multiple Myeloma, Acute Myeloid Leukemia, ovarian, endometrial, and triple-negative breast cancers. These therapies combine targeted tumor growth inhibition with immune system modulation to offer potent, less toxic options compared to conventional treatments.
“This financing round empowers us to expand our preclinical activities and advance our programs towards clinical development,” said Dr. Reiner Laus, CEO of TRIO Pharmaceuticals. “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.”
TRIO Pharmaceuticals is dedicated to reimagining 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.
About Friedman Bioventure
Friedman Bioventure Fund 1, LP (FBVF1) is a limited partnership that serves as the biotech focused investment arm of a diversified family office. The fund was created in early 2016 to provide a formal structure for vetting and management of new opportunities, and allow for participation of new limited partners. FBVF1 actively invests in early stage biotechnology companies with promising technologies.
About the Myeloma Investment Fund (MIF)
The Myeloma Investment Fund (MIF) is a venture philanthropy fund that invests in promising companies, clinical assets, and technologies in oncology to drive the development of new therapies for multiple myeloma. The MIF collaborates closely with portfolio companies to help them advance multiple myeloma research. This evergreen fund is supported entirely by philanthropy; all profits will be reinvested back into research for more effective treatments until there is a cure for every patient. For more information, visit www.myelomainvestmentfund.org.
About the Multiple Myeloma Research Foundation (MMRF)
The Multiple Myeloma Research Foundation (MMRF) is the largest nonprofit in the world solely focused on accelerating a cure for each and every multiple myeloma patient. We drive the development and delivery of next-generation therapies, leverage data to identify optimal and more personalized treatment approaches and empower myeloma patients and the broader community with information and resources to extend their lives. Central to our mission is our commitment to advancing health equity so that all myeloma patients can benefit from the scientific and clinical advances we pursue. Since our inception, the MMRF has raised over $600 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market, which have tripled the life expectancy of myeloma patients. To learn more, visit www.themmrf.org.
About TRIO Pharmaceuticals
TRIO Pharmaceuticals, Inc. is a cancer immunotherapeutics company pioneering bispecific antibodies for the treatment of cancer with unprecedented potency and selectivity. TRIO’s innovative antibody drugs directly stop tumor growth without affecting normal cells and selectively stop immunosuppression in the tumor without targeting the current immune checkpoint pathways. TRIO is developing a proprietary platform of dual-action tumor immunity-enhancing drugs aimed at treating cancers of high unmet medical needs by targeting specific antigens on the cancer cells and immunosuppressor cells. TRIO has an experienced team that has developed first-in-class FDA-approved drugs.
For more information, visit https://www.triopharmaceuticals.com.
