TriGemX Bio (formerly known as Kallyope), a biotechnology company focused on developing a first-in-class medicine for the treatment of migraine, today announced the closing of a $94 million financing co-led by The Column Group, TCGX, and Viking Global Investors, with participation from additional investors. The funds will be used to advance the clinical development of the company’s lead program, elismetrep, a novel, oral TRPM8 channel blocker, which is currently in Phase 3 trials for the acute treatment of migraine. Results from the first Phase 3 trial of elismetrep are anticipated in mid-2027.
The company is relaunching with a new name, which is better aligned with its strategic focus, and a new leadership team, with the appointments of biotech veterans Jeff Goater as Chief Executive Officer and Aninda Katragadda as Chief Financial Officer, who will work alongside TriGemX Bio’s Chief Medical Officer, Brett Lauring, M.D., Ph.D., to deliver a new and impactful therapy to help the approximately one billion migraine sufferers worldwide.
“Today’s announcement represents the start of an exciting new chapter for the company,” said Jeff Goater, CEO of TriGemX Bio. “Migraine is one of the most common neurological diseases, and a meaningful percentage of affected patients do not achieve adequate relief from existing therapies. The impact on quality of life for migraine sufferers can be severe, and we believe elismetrep will be a valuable addition to the physician armamentarium to treat this disease. I am eager to work alongside the entire TriGemX Bio team to advance this important new medicine.”
Jeff Goater joins TriGemX Bio from The Column Group (TCG), where he continues to serve as a Venture Partner. Prior to joining TCG, he was helping to build and lead biotechnology companies, including serving as CEO of Surface Oncology and CFO of Voyager Therapeutics. Previously, Mr. Goater spent nearly a decade in investment banking, most recently as a managing director at Evercore. He began his career as a research scientist in the field of AAV gene therapy and holds master’s degrees in microbiology/immunology (M.S.), pathology (M.S.) and business administration (M.B.A.) from the University of Rochester.
“I am incredibly excited to join TriGemX Bio at such a transformational time,” said Aninda Katragadda, CFO of TriGemX Bio. “We are very thankful for the support of our new and existing investors as we advance the development of elismetrep. I look forward to working with the experienced TriGemX Bio team as we execute against our strategy and implement plans for our next phase of growth.”
Aninda Katragadda joins TriGemX Bio with more than two decades of financial leadership experience in the biotechnology industry. Most recently, she served as Chief Financial Officer at Atavistik Bio. Previously, she held senior finance leadership and advisory roles at Akouos, Surface Oncology, Foghorn Therapeutics, Voyager Therapeutics, The Medicines Company, and Vertex. She is a CPA with public accounting experience at PwC. Ms. Katragadda holds a B.S. in Business Administration and Accounting from the University of Missouri.
“Our Phase 2b data, as well as the advantages of our new liquid-filled soft gel formulation reinforce the differentiated profile of elismetrep as a promising investigational therapy for the acute treatment of migraine,” said Brett Lauring, M.D., Ph.D., CMO of TriGemX Bio. “Furthermore, TRPM8 is a mechanistically distinct therapeutic target compared to targets of all other current migraine medicines. Our Phase 3 program for elismetrep is well underway and we look forward to sharing initial clinical results in mid-2027.”
Cariad Chester, Managing Partner at TCGX, added: “We are excited to support TriGemX Bio and the pivotal Phase 3 trials of elismetrep. Despite the significant advances enabled by CGRP-targeted therapies, fewer than a third of patients achieve adequate control of their migraine symptoms, underscoring the substantial need for new treatment options. We believe elismetrep has the potential to address this need and play a foundational role in the treatment of migraine. The TriGemX team has deep expertise in migraine biology and clinical development, positioning the company for success as we rapidly advance elismetrep through Phase 3 trials and towards FDA approval.” As part of the financing, Cariad Chester joined the Board of Directors of TriGemX Bio.
About Elismetrep
Elismetrep (K-304) is an investigational, novel, oral, TRPM8 channel blocker under development for the acute treatment of migraine. Specifically designed to block TRPM8 activity, elismetrep has been shown to be well-tolerated and to reduce migraine pain and associated symptoms in a Phase 2b trial. Phase 3 trials for elismetrep for the acute treatment of migraine are currently ongoing. The first pivotal study (NCT07645924) and a long-term safety study (NCT07674654) are underway, with a second pivotal study (NCT07816367) to begin in October 2026. Elismetrep is an investigational product and has not been approved by the FDA or any other regulatory agency. For more information, please visit clinicaltrials.gov.
About TriGemX Bio
TriGemX Bio is a biotechnology company focused on developing elismetrep, a first-in-class TRPM8 channel blocker for the treatment of migraine. The targeting of TRPM8 for the treatment of migraine is a direct result of TriGemX Bio’s unique insights into neural signaling pathways. The name “TriGemX” is a reference to the trigeminal ganglion, a migraine-relevant neural structure where TRPM8 is expressed. Elismetrep is currently in Phase 3 trials for the acute treatment of migraine, with results from the first Phase 3 trial anticipated in mid-2027.
For more information visit www.trigemxbio.com.
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