TriGemX Bio, formerly known as Kallyope, has closed a $94 million financing co-led by The Column Group, TCGX and Viking Global Investors, with participation from additional investors. The company will use the capital to advance the clinical development of elismetrep, its investigational oral treatment for acute migraine.
The financing was announced alongside the company’s relaunch as TriGemX Bio and a new leadership structure. Jeff Goater has been appointed Chief Executive Officer and Aninda Katragadda Chief Financial Officer, while Brett Lauring, M.D., Ph.D., continues as Chief Medical Officer. Goater also serves as a Venture Partner at The Column Group.
Based in New York City, TriGemX Bio is a biotechnology company focused on developing medicines based on neural signaling pathways. The company traces its origins to Kallyope, which launched in 2015. Its current lead program, elismetrep, also known as K-304, is an oral blocker of the TRPM8 ion channel being developed for the acute treatment of migraine.
Elismetrep has progressed into Phase 3 development following a Phase 2b study in adults with migraine. TriGemX Bio said its first pivotal Phase 3 study and a long-term safety study are underway, with a second pivotal study scheduled to begin in October 2026. Results from the first Phase 3 trial are anticipated in mid-2027. The drug remains investigational and has not been approved by the FDA or another regulatory agency.
As part of the financing, TCGX Managing Partner Cariad Chester joined TriGemX Bio’s board of directors. TCGX and Viking Global Investors joined the company as new investors in the financing.
