NuFund Venture Group Invests in TRIO Pharmaceuticals to Advance Next-Generation Cancer Immunotherapies
December 3th , 2024– San Diego, CA – NuFund Venture Group (NuFund) is proud to announce its investment in TRIO Pharmaceuticals Inc., a groundbreaking cancer immunotherapeutics company advancing novel antibody-based therapies to strengthen the body’s immune system and eradicate cancer.
TRIO Pharmaceuticals has developed a first-of-its-kind approach that simultaneously targets cancer cells and immunosuppressive cells, addressing a significant challenge in cancer immunotherapy. By eliminating these “bad actor” immunosuppressive cells, TRIO enhances antitumor immunity and unlocks new possibilities in oncology.
“TRIO’s innovative platform is transforming cancer treatment by tackling both tumor cells and the immunosuppressive environment that protects them,” said Prasad Sunkara, NuFund member and Deal Lead for TRIO. “Their breakthrough therapies, combined with a leadership team that includes industry veterans, represent the type of high-impact innovation NuFund is committed to supporting.”
Collaborative Investment and Milestone Achievement
TRIO Pharmaceuticals is raising funding to advance its TRAIL Body program through IND-enabling studies. The current $2.2M seed funding round includes investments from Purdue Ventures, NuFund, SeedFolio, Friedman Bioventure, Life Science Angels, and others. TRIO’s progress highlights the collaborative efforts of leading investor groups in the U.S. and Japan.
“NuFund’s support and expertise will play a critical role as we advance our technology and identify the best drug candidates for further development,” said Reiner Laus, MD, Co-Founder and CEO of TRIO Pharmaceuticals. “This milestone is crucial for positioning us to collaborate with larger pharmaceutical companies and raise future funding rounds.”
Purdue Ventures and TRIO’s Founding Story
TRIO’s ties to Purdue University underscore its commitment to innovation. The company’s founder and COO, Shiva Bhowmik, earned his PhD in biophysics and structural biology at Purdue, inspired by Wayne Hockmeyer, the founder of MedImmune.
“Purdue has been instrumental in shaping TRIO’s journey, and I’m thrilled to see our connections deepen with this investment,” said Bhowmik. “This funding will allow us to refine our platform and deliver on our vision of revolutionizing cancer immunotherapy.”
About TRIO Pharmaceuticals
TRIO Pharmaceuticals Inc. is a cancer immunotherapeutics company pioneering dual-action drugs to generate immunogenic tumors. TRIO’s innovative antibody drugs directly stop tumor growth 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/
About NuFund Venture Group
NuFund Venture Group represents a new wave of angel investors, blending personalized mentorship with venture capital efficiency. Formerly Tech Coast Angels – San Diego, NuFund has become one of the largest and most active early-stage investor groups, with a focus on supporting transformative startups across industries. For more information, visit www.NuFund.com.
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