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Japan-based startup Toregem BioPharma has raised approximately $5.3 million (JPY 850 million) in Pre-Series C financing round of an allocation of J-KISS- type stock acquisition rights to a new investor and also a third-party allotment of new shares with subscribing companies including JIC Venture Growth Investments (VGI).
Through this funding, Toregem’s cumulative equity financing has reached approximately $16 million (JPY 2.6 billion), and its cumulative funding, including grants and subsidies, has exceeded $29 million (JPY 4.6 billion).
With this Pre-Series C funding, Toregem will conduct Phase II clinical trials of TRG035, a humanised anti-USAG-1 antibody, in Japan, prepare for future clinical development in the United States, and further accelerate the clinical development.
TRG035 is expected to offer a new radical therapeutic approach for patients who currently have limited treatment options with dentures or implants, and the startup sets its goal to obtain Japanese approval for launch as a new treatment.
This financing will primarily be used for promoting the global development of the lead pipeline, research and development for additional promising pipeline programmes, strengthening corporate governance, and expanding organisational capabilities through recruitment.
Toregem has received approximately $12 million (JPY 1.9 billion) in grant funding from the 2024 “Drug Discovery Venture Ecosystem Enhancement Project” (4th round) of the Japan Agency for Medical Research and Development (AMED) as a supporting drug discovery venture company, together with other grants and subsidies, total non-dilutive funding has reached approximately $12.5 million (JPY 2.0 billion).
The startup is in the process of researching and developing a therapeutic for patients with congenital tooth agenesis, first. Congenital tooth agenesis is a rare disease for which no curative treatment currently exists, and patients are mainly children whose jawbones are still developing, so often have difficulty using dentures or implants until they become adults. USAG- 1 antibodies are expected to induce the development of a “third dentition” following permanent teeth.
