SAN DIEGO– 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.
