Startup profile · funding coverage
TriGemX Bio funding, valuation and investors
Late-stage migraine biotech developing elismetrep, an oral TRPM8 channel blocker.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Financing (stage undisclosed)
$94M · October 1, 2026
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$94M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · New York, New York
Investors in latest funding
Lead: The Column Group , TCGX , Viking Global Investors
Overview
TriGemX Bio, formerly Kallyope, is a New York biotechnology company advancing elismetrep for the acute treatment of migraine. Elismetrep is an investigational oral blocker of the TRPM8 ion channel and is in Phase 3 trials.
Why TriGemX Bio is interesting
The $94 million financing funds an active pivotal program rather than early discovery. TriGemX is testing a mechanistically distinct migraine target after a positive Phase 2b study, with first Phase 3 results expected in mid-2027. The central risk is binary clinical and regulatory execution: elismetrep remains investigational and has not been approved.
Product & use cases
Elismetrep (K-304), a liquid-filled soft-gel formulation of an oral TRPM8 channel blocker for acute migraine treatment.
- Acute treatment of migraine in adults.
Key facts
- Closed $94 million of financing co-led by The Column Group, TCGX and Viking Global Investors.
- Two pivotal studies and a long-term safety study form the Phase 3 program.
- Relaunched from Kallyope as TriGemX Bio with a focused migraine strategy and new leadership.
Funding history (newest first)
Financing (stage undisclosed)
2026-10-01 $94MInvestors in our directory
Funds linked from TriGemX Bio's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: A potentially first-in-class oral TRPM8 blocker with Phase 2b evidence and an active pivotal program.
TriGemX will compete for use in a migraine market transformed by CGRP-targeted drugs from AbbVie, Pfizer and Eli Lilly, alongside triptans and other acute therapies. Its argument is mechanistic differentiation through TRPM8 blockade. Commercial value will depend on Phase 3 efficacy, safety, onset and tolerability relative to established oral options.
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AbbVie (Ubrelvy) incumbent
Established oral CGRP antagonist for acute migraine treatment.
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Pfizer (Nurtec ODT) incumbent
Oral CGRP antagonist used for acute treatment and prevention.
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Eli Lilly (Reyvow) alternative
Non-CGRP oral acute migraine treatment with a distinct mechanism.
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Triptans alternative
Long-established acute migraine therapies used broadly as generics and brands.
Industries
Market / IPO context
Editorial / static context — not a live quote.
Related funding articles
Venture Capital Tracker pieces that cover TriGemX Bio's financing or category context.
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