Edinburgh-based MedTech Trogenix has raised £70 million in a Series A funding round to accelerate the development of its next-generation cancer therapies targeting aggressive solid tumours.
The investment, led by IQ Capital, will enable the company to advance its lead programme in glioblastoma and a follow-on programme in colorectal cancer liver metastases.
It will also help the firm to expand its pipeline in liver and lung cancers, as well as support the continued development of its proprietary Odysseus platform.
“This significant investment accelerates our lead programme in glioblastoma and follow-on programme in colorectal cancer liver metastases through the clinic, advances our pipeline in liver and lung cancers, and further enhances our Odysseus platform,” said Ken Macnamara, CEO at Trogenix.
“We are honoured to have the support of existing and new investors who share our mission to deliver breakthrough treatments and pursue cures for the thousands of patients and families facing devastating diagnoses each year.”
The business, founded just two years ago, has built the platform to identify and target the universal vulnerabilities of solid tumours.
Its technology looks to kill cancer cells and boost the immune system while leaving healthy tissue unharmed, in an attempt to transform how cancer is treated.
Max Bautin, co-founder and managing partner at IQ Capital, added: “Our outsized investment in Trogenix in today’s selective funding landscape reflects our confidence in the company’s world-leading science, exceptional management team and a clear roadmap for delivery both in the clinic and commercially.
“We are particularly excited by the potential opportunities ahead across Trogenix’s pipeline and look forward to our future collaboration.”
Trogenix was spun out from the University of Edinburgh, with early backing from 4BIO Capital.
The company’s lead glioblastoma programme is set to enter clinical trials with first patient dosing expected in Q1 2026.
It is now also advancing therapies for hepatocellular carcinoma and non-small cell lung carcinoma as it continues its mission to develop potentially curative treatments for some of the world’s deadliest cancers.
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