Company Spotlight – Trustlife Therapeutics
We are pleased to feature Trustlife Therapeutics for this month’s company spotlight. The technology-based company recently expanded their business into London with the help of MedCity.
About Trustlife Therapeutics
Trustlife Therapeutics (TT) is a technology-based company founded originally founded in Turkey in 2021, before landing in the UK in February 2024. The company’s area of expertise lies in systems biology and AI-based innovative drug discovery.
The dynamic six-member team has extensive international experience in science, management, and finance. The company is led by:
- Professor Adil Mardinoğlu, CSO who also serves as a Professor of Molecular Biology at King’s College London. He leads a team of researchers working in the area of computational biology, experimental biology and drug development to develop new treatment strategies for metabolic diseases, neurodegenerative diseases and certain type of cancers.
- Bülent Denkdemir, CEO with 25 years of total C-Level management experience in international businesses and 15 years in the healthcare industry. In addition to his other experiences, Bülent served as an Executive Board Member of Boots Europe and CEO of Boots Turkey from 2009 to 2013.
The founders of TT have companies in the US and Turkey, operating in the same area of expertise. These companies have assets including drug candidates and drug development AI platforms.
Setting up in London
The main reasons for relocating TT’s headquarters to London included:
- Initiating scientific collaboration projects with King’s College London
- Developing existing AI platforms with data science teams to be established in London
- Vast opportunities London offers in terms of investment financing
Asked whether TT would recommend London as a location to expand their business, they responded saying, “[we] highly recommend all technology companies looking to expand internationally to prioritise the UK, especially London, as their first choice. The UK government and MedCity have the power and vision to provide all the support you need for your growth.”
Future plans
The establishment goal of TT is to consolidate all US and Turkey assets under the structure of the new UK-based company by July 2024. This would transform TT-UK into a holding company and enable its continued international growth in the UK, subsequently allowing for the development of new projects.
Currently the individual companies have 13 drug candidates, 75 R&D employees, a high-tech drug R&D center, and 4 specially developed AI platforms. The current market value of the assets is around $30 million. Four of these drug candidates are expected to complete animal trials this month and commence human clinical trials.
TT aims to have 10 employees by the end of 2024 and 30 employees by the end of 2025 in its UK office. The company is expected to have 4 Phase-1 completed drug candidates and 2 Phase-2 completed drug candidates by 2027, reaching a market value of around $500 million. At this point, the goal for TT is to go public on the London Stock Exchange.
We look forward to continuing to support Trustlife Therapeutics on their development journey in the London life sciences ecosystem.