Convergen has raised $15 million in a Seed+ financing round led by MPCi, with participation from LAV, BioTrack Capital and another biotechnology-focused investment fund, the company said. The round follows a $10 million seed financing led exclusively by Qiming Venture Partners, bringing Convergen’s disclosed funding across the two rounds to $25 million.
Convergen’s targeted protein degradation approach
Convergen plans to use the proceeds to accelerate its lead asset toward clinical development while continuing work on its broader proprietary degrader platform. The company’s scientific approach focuses on selectively eliminating pathological protein aggregates, which are associated with Alzheimer’s disease and other neurodegenerative disorders. Scientific founder Professor Ting Han and her laboratory reported the first TRIM21 molecular glue and subsequently established proof of concept for TrimTAC, a targeted degradation approach described in a November 2024 Cell publication. TrimTAC seeks to exploit TRIM21 characteristics to target protein aggregopathies.
The company said the technology has also shown potential to selectively degrade targets associated with autoimmune diseases, creating opportunities beyond its initial focus on neurodegeneration. Convergen is positioning itself in the competitive targeted protein degradation field by addressing aggregated proteins that can be difficult to treat with conventional drug approaches.
Funding and next steps
The next major milestone for Convergen is translating its platform from preclinical scientific validation toward clinical drug candidates. Management said the Seed+ proceeds will provide additional resources to advance the lead program while continuing to test the broader applicability of the underlying technology across multiple disease areas. “This financing will enable us to accelerate our lead asset toward the clinic while continuing to advance our pipeline,” Dr. Jinquan Sun, CEO of Convergen, said.
