China-based Convergen has raised USD 15 million in a new financing round led by Matrix Partners China, with GL Ventures, Lilly Asia Ventures, and BioTrack Capital joining, adding to a prior USD 10 million seed from Qiming Venture Partners and bringing total raised to USD 25 million. The capital supports development of its TrimTAC platform, a TRIM21-restricted molecular glue and PROTAC degrader system.

Unlike CRBN- or VHL-based degraders that act on soluble monomers, TrimTAC exploits TRIM21's innate immune receptor geometry: the E3 ligase only activates when its RING domain dimerises upon binding a multimeric target, giving the platform a built-in selectivity filter for pathological aggregates in neurodegeneration, autoimmunity, and oncology.

Convergen's near-term focus is central nervous system indications – Alzheimer's and Parkinson's – where accumulated multimeric tau, alpha-synuclein, or TDP-43 species resist conventional small molecules, and where a degrader that spares native monomers could avoid the on-target toxicity that sank earlier aggregate-binding antibodies.