University of Edinburgh spinout Trogenix, which is developing curative therapies for aggressive, treatment-resistant cancers, has completed Series A financing of £70 million.

The funding will allow the biotech company to rapidly advance its pipeline of cancer therapies into phase 1 in-human clinical trials, starting with therapies targeting brain cancer.

Pre-clinical studies have already shown the firm’s Odysseus platform can kill cancerous brain cells and stimulate the immune system, whilst leaving surrounding healthy cells and tissue untouched, potentially changing the treatment paradigm for cancer patients.

The funding round was led by IQ Capital with participation from founding investor 4BIO Capital, returning investors Cancer Research Horizons and the National Brain Tumor Society’s Brain Tumor Investment Fund. 

The round also saw new investors Eli Lilly and Company, Meltwind, LongeVC, and Calculus Capital, as well as undisclosed private investors.

Trogenix said the new funding highlights the transformative potential of its precision genetic medicines, a potential underscored by the fact that it marks Cancer Research Horizons’ largest investment to date.

“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, Trogenix CEO.

“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.”

Initially incubated by 4BIO Capital, additional seed funding at spinout in 2023 was provided by investors including Old College Capital (OCC), the University of Edinburgh’s venture investment fund, and continues to be OCC’s largest ever Seed-stage commitment.

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Trogenix’s work is based on co-founder Professor Steve Pollard’s research at the University of Edinburgh, with the spinout aiming to revolutionise cancer treatment by combining the power of cancer cell killing and immune stimulation, delivered via a Trojan Horse approach that ‘reawakens’ the immune system to provide long-term protection against tumour recurrence.

Trogenix’s lead programme in glioblastoma multiforme, one of the most aggressive and treatment-resistant brain cancers, is advancing toward clinical trials with first patient dosing anticipated in Q1 2026.

“With today’s new £70 million financing, Trogenix will be able to move rapidly into clinical trials for glioblastoma,” said Professor Pollard.

“This represents another example of the vibrant spinout ecosystem in Edinburgh, with tremendous support from the IRR, Edinburgh Innovations and many of my colleagues and collaborators, who have been highly supportive from the outset. ”