Suzhou-based Convergen has closed a USD 15 million Seed+ financing round to advance its TrimTAC targeted protein degradation platform for neurodegenerative and autoimmune diseases, bringing total capital raised to USD 25 million since the company's founding.
MPCi led the round, with participation from LAV, BioTrack Capital, and an undisclosed biotech fund. The current financing follows a USD 10 million seed round closed in December 2025 that was led exclusively by Qiming Venture Partners. Convergen said proceeds will be used to advance its lead TrimTAC asset through IND-enabling studies and to expand its pipeline into autoimmune disease.
The company's platform centers on TrimTAC, a class of bifunctional degrader molecules designed to exploit a distinctive property of the E3 ubiquitin ligase TRIM21: its ligase activity is only triggered when multiple TRIM21 molecules cluster simultaneously on a large, multivalent substrate. Because pathological protein aggregates — such as tau tangles in Alzheimer's disease — present multiple binding sites while healthy monomeric protein forms do not, TrimTAC molecules are designed to selectively degrade the aggregated species while leaving functional monomers intact. The scientific proof-of-concept was published in Cell in November 2024 by Convergen's scientific co-founder, Prof. Ting Han of the National Institute of Biological Sciences (NIBS), Beijing, who also holds an affiliation with Tsinghua University's Institute of Multidisciplinary Biomedical Research.
Convergen's lead program targets tau aggregates in Alzheimer's disease and related tauopathies and remains at the preclinical stage, with an IND filing the stated near-term goal. A second program applying the same platform to pathological protein assemblies in autoimmune disease is at an earlier discovery stage; specific molecular targets have not been publicly disclosed. No clinical trials are currently registered for either program.