TriGemX Bio closes $94 million financing for Phase 3 migraine drug
Image: Primary TriGemX Bio announced it closed a $94 million financing to advance elismetrep, its investigational oral migraine treatment now in Phase 3 trials. The Column Group, TCGX and Viking Global Investors co-led the financing, with participation from additional investors.
Formerly Kallyope, the company is developing a drug that blocks TRPM8 channel activity. Its first pivotal trial and a long-term safety study are underway, with a second pivotal study scheduled to begin in October 2026. Initial Phase 3 results are expected in mid-2027. Elismetrep has not been approved by the FDA or any other regulatory agency.
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