4BIO Capital founded Trogenix secures £70 million Series A financing to drive clinical development of potentially curative therapies for aggressive cancers

·         Trogenix was founded by 4BIO as a spinout from the University of Edinburgh alongside Professor Steve Pollard and Dr Ken Macnamara in 2023

·         Trogenix's breakthrough Odysseus® platform targets cancer cells to deliver precision therapies with curative “one and done” potential across multiple aggressive, treatment-resistant cancers

·         £70 million financing round led by IQ Capital with participation from new investors Eli Lilly, Meltwind, LongeVC, and Calculus Capital

London, United Kingdom, 6 October 2025 - 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm unlocking the treatments of the future by investing in advanced therapies and other emerging technologies, announces that Trogenix Ltd (“Trogenix"), a pioneering biotech company founded by 4BIO and dedicated to developing innovative cancer therapies, has secured a £70 million ($95 million) Series A financing. The funding will enable the rapid advancement of Trogenix’s pipeline of potentially curative cancer therapies across multiple aggressive solid tumours into the clinic.

4BIO Capital invested in the Series A alongside IQ Capital which led the round, with new investors Eli Lilly and Company, Meltwind, LongeVC, and Calculus Capital. The round also included returning investors, the National Brain Tumor Society’s Brain Tumor Investment Fund and Cancer Research Horizons, a wholly owned subsidiary of Cancer Research UK, acting as its translational arm to advance bold research innovations, whose participation represents its largest investment to date.

Trogenix is revolutionising cancer treatment by combining the dual 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 (GBM), one of the most aggressive and treatment-resistant brain cancers, is advancing toward clinical trials with first patient dosing anticipated in Q1 2026. 

Dima Kuzmin, Co-founder and Managing Partner at founding investor, 4BIO Capital, and Chairman of Trogenix, said: “Trogenix perfectly embodies 4BIO’s innovation driving playbook, where we support breakthrough biotech companies to develop and deliver exceptional technologies, reach new areas of medicine and pioneer novel treatment possibilities.

“This investment, supported by an outstanding syndicate of leading investors, demonstrates the value that our hands-on, dedicated approach can have towards transforming innovative concepts into breakthrough therapies. Trogenix is now at a pivotal stage as it moves into the clinic and we look forward to continuing our close work with the company and its management, as they continue their rapid journey from breakthrough science towards potentially curative therapies across multiple aggressive cancers.”

Ken Macnamara, Chief Executive Officer at Trogenix, added: “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 continued support of our founding investors, 4BIO Capital and I would like to thank Dima and the team for their tireless work and enthusiasm. I also thank and welcome our 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.”