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The Venture Codex

TCGX

245 Lytton Ave., Suite 350, Palo Alto, CA, 94301, United States

Overview

TCG X is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCG X invests in both private and public companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCG X has investment teams in Palo Alto and New York City

Total investments
38
Lead investments
19
Investments · 12mo
11
Active investors
3

Sector focus

  • Alternative Medicine
  • Financial Services
  • Health Care
  • Life Science
  • Venture Capital
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Investment portfolio

  • Vaderis Therapeutics

    Led · Series B · Aug 2026

    Vaderis is developing engasertib (VAD044), an investigational once-daily oral selective allosteric AKT1/2 inhibitor intended to treat hereditary hemorrhagic telangiectasia (HHT). The company has advanced engasertib into pivotal development following positive proof-of-concept and long-term extension data published in The New England Journal of Medicine. Vaderis has initiated HEROIC, a global Phase 3 randomized, double-blind, placebo-controlled study enrolling patients across North America, South America and Europe. The company intends to use proceeds from its $152 million Series B to support operations through regulatory submissions and potential U.S. approval. Vaderis is headquartered in Basel, Switzerland, with a U.S. subsidiary in Lincolnshire, Illinois. The company positions engasertib as a potential first approved therapy specifically developed for people living with HHT.

  • Ollin Biosciences

    Led · Series B · Jun 2026

    Ollin Biosciences, founded in 2023 and based in Austin, Texas, is advancing a pipeline of bispecific antibodies for retinal and orbital diseases. Its lead candidate, OLN324, is a next-generation VEGF/Ang2 bispecific antibody discovered in collaboration with Innovent Biologics; in a 164-patient randomized head-to-head Phase 1b (JADE) study versus faricimab (Vabysmo®) OLN324 demonstrated faster and greater anatomic retinal drying and numerically greater vision gains. Ollin plans to initiate global Phase 3 trials of OLN324 in DME and wAMD in the second half of 2026 after completing regulatory discussions with the FDA and receiving EMA scientific advice. The company’s second program, OLN102, is a TSHR/IGF-1R bispecific antibody discovered with VelaVigo and is expected to enter clinical development in 2026 for thyroid eye disease and Graves’ disease. Ollin positions its candidates as potentially best-in-disease therapies and is using recent financing to fund registrational studies and further clinical development.

  • Mentari Therapeutics

    Participated · Equity · May 2026

    Mentari’s lead programs are MT-001, an anti-PACAP monoclonal antibody slated for first-in-human regulatory filings in mid-2026, and MT-002, an anti-CGRP x PACAP bispecific antibody expected to enter regulatory filings in the first quarter of 2027. The programs were discovered by Paragon Therapeutics and have shown strong in vitro potency and favorable pharmacokinetic profiles in preclinical studies. The therapies are designed to target complementary migraine pathways and address patients who experience limited benefit from currently approved anti-CGRP treatments. Mentari announced a $290 million private placement that it says will fund operations through 2028 and entered an all-stock merger agreement with InMed Pharmaceuticals to gain public market infrastructure. Following the transaction the combined company is expected to trade on the Nasdaq Capital Market and have a pro forma equity value of approximately $421.4 million, with pre-merger InMed shareholders holding about 1.51% of the combined company. The company and merger parties expect to accelerate development timelines and pursue regulatory filings according to the stated milestones.

  • Accro Bioscience

    Participated · Series C · May 2026

    Accro Bioscience is a clinical-stage biotech developing first- and best-in-class small-molecule therapeutics that target regulatory cell death pathways for inflammatory and immune-mediated diseases. Its lead asset, AC-101, is a selective RIPK2 inhibitor being developed for moderate-to-severe ulcerative colitis and has completed Phase I studies in healthy volunteers in Australia and China, plus a Phase Ib/IIa proof-of-concept study in Chinese patients. The company has received IND clearance from the U.S. FDA to proceed with Phase II studies of AC-101. Accro announced a $50 million Series C to fund a Phase IIb trial of AC-101 and to advance other pipeline candidates. The company operates out of New York and Suzhou and describes a multi-asset pipeline originating from a proprietary drug discovery platform focused on regulatory cell death and inflammation. Ongoing clinical progress and the new financing position Accro to advance global development of its lead and follow-on programs.

  • ADCendo

    Participated · Series C · Apr 2026

    Adcendo is advancing a pipeline of first- and potential best-in-class antibody-drug conjugates, integrating novel targets and optimized linker-payload combinations. The company is progressing three ADC programs: ADCE-T02 (Tissue Factor) in a Phase I Tiffany-01 cohort expansion across multiple solid tumors, ADCE-D01 (uPARAP) in Phase 1 dose escalation and expansion for soft tissue sarcoma and other mesenchymal cancers, and ADCE-B05 (undisclosed target) in preclinical evaluation and planned dose escalation in squamous cell carcinomas. Founded in 2017, Adcendo is headquartered in Copenhagen with operations in Boston, Massachusetts, and is led by a team with extensive ADC development and commercialization experience. The recent $75 million Series C financing is intended to fund the programs through upcoming clinical milestones and data readouts. No revenue or other operating metrics were disclosed in the provided articles.

Team