Scottish biotech company Trogenix has raised €80 million in Series A funding to accelerate its pipeline of next-generation cancer therapies targeting aggressive solid tumours. The round, one of the largest early-stage biotech financings in Europe this year, was led by IQ Capital, with participation from 4BIO Capital, Cancer Research Horizons, Brain Tumor Investment Fund, and new backers including Eli Lilly, LongeVC, Meltwind, and Calculus Capital.
The company plans to use the investment to advance its pipeline of potentially curative cancer therapies across multiple aggressive solid tumours.
Within the UK, oncology-focused startups such as LIfT BioSciences, Cyted Health, and Enhanced Genomics are also attracting substantial funding, reinforcing the UK’s position as a global hub for next-generation cancer innovation.
Transforms cancer therapy with synthetic super-enhancers
Founded in 2023 from research led by Professor Steve Pollard at the University of Edinburgh, Trogenix draws upon advanced work from the UK Centre for Mammalian Synthetic Biology and the Cancer Research UK Scotland Centre. The company’s cutting-edge approach combines AAV vectors with Synthetic Super-Enhancers (SSEs), engineered sequences that fine-tune gene expression inside tumour cells.
This allows Trogenix to expose tumours to the body’s immune system while directly eliminating cancerous cells. Their so-called “Trojan horse” mechanism is designed to prevent recurrence, creating what the company calls a potential “one-and-done” treatment for otherwise untreatable cancers.
At the heart of its pipeline is the Odysseus platform, which identifies and targets the universal weaknesses of solid tumours. By delivering potent combination payloads that destroy cancer cells while sparing healthy tissue, the technology could redefine the balance between efficacy and safety in cancer treatment. This approach has already made Cancer Research Horizons’ investment in Trogenix the largest in its history, signalling a strong belief in the company’s curative promise.
Advancing the cure for aggressive cancers
Trogenix’s lead candidate focuses on glioblastoma (GBM), one of the most lethal and treatment-resistant brain cancers. Despite extensive research, only a quarter of GBM patients survive beyond a year. With clinical trials set to begin in early 2026, Trogenix aims to deliver a therapy that could finally offer meaningful survival benefits.
Beyond GBM, the company’s follow-on programme targets colorectal cancer liver metastases (CRCLM), a severe progression seen in about 25% of colorectal cancer cases worldwide. Trogenix is also advancing candidates for hepatocellular carcinoma and non-small cell lung carcinoma, building a diverse portfolio that addresses some of the hardest-to-treat cancers.
As Trogenix moves closer to the clinic, its combination of synthetic biology, gene control, and immune activation could mark a defining moment in Europe’s cancer research landscape. Backed by global investors and born from deep academic roots, the Edinburgh-based company is positioning itself not just as another biotech venture, but as a potential catalyst for a new era of curative oncology.
Ken Macnamara, Chief Executive Officer at Trogenix, said: “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. 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.”
Max Bautin, Co-founder and Managing Partner at lead investor, IQ Capital, said: “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.”
Iain Foulkes, Chief Executive Officer at Cancer Research Horizons, commented: “Trogenix’s platform technology is a powerful example of the innovation we seek to accelerate. Representing our largest investment to date, this partnership reflects our commitment to advancing science with the potential to transform cancer treatment. As they advance into clinical trials for glioblastoma, one of the hardest to treat cancers, we’re pleased to support a team whose work could reshape therapeutic approaches and improve outcomes for patients facing the greatest need.”
Dima Kuzmin, Co-founder and Managing Partner at founding investor, 4BIO Capital, and Chairman of Trogenix, added: “We are proud to have supported Trogenix through the initial incubation stage and spin-out from the University of Edinburgh, and are very happy to continue our support alongside this strong syndicate. It is exciting to see the company forge ahead with its clinical development to deliver a pioneering portfolio of cancer therapies to patients in need.”
