Suzhou biotechnology company Convergen said the MPCi-led financing brings its publicly disclosed funding to $25 million and will support development of its TrimTAC platform and therapeutic pipeline.
Convergen, a Suzhou, China-based biotechnology company developing targeted protein degradation therapies, has closed a $15 million Seed+ financing round led by MPCi.
LAV and BioTrack Capital participated alongside an unnamed biotech fund, according to Convergen’s August 31 announcement. The company previously raised a $10 million Seed round from Qiming Venture Partners in December 2025, bringing its publicly disclosed financing to $25 million.
Convergen said it plans to use the new capital to further develop its proprietary degrader platform and accelerate therapeutic programs targeting neurodegenerative disorders and other diseases associated with pathological protein aggregation. CEO and co-founder Dr. Jinquan Sun said the financing would also support efforts to advance the company’s lead asset toward clinical development.
The company’s drug-development work is centred on TrimTAC, a targeted protein degradation approach based on the E3 ubiquitin ligase TRIM21. The platform is intended to selectively degrade multimeric or aggregated proteins while limiting degradation of corresponding monomeric proteins.
The scientific basis for the approach emerged from research involving Convergen scientific co-founder Ting Han. A study published in Cell in 2024 reported TRIM21-based molecular glue and PROTAC degraders capable of selectively targeting multimeric proteins under the experimental conditions studied. The research established an early proof of concept for the TrimTAC approach rather than clinical efficacy in patients.
Convergen’s current programs remain in drug-development stages. The company has said its initial focus includes neurodegenerative diseases, where abnormal protein aggregation is implicated in conditions including Alzheimer’s disease, while the underlying platform is also being explored for additional protein aggregation and autoimmune disease targets.
