Biotech upstart Trino Therapeutics, a spinout of Ireland's Trinity University, has raised $12 million to get started on a new drug for inflammatory diseases. The biotech's scientific founders are using insights on a Chinese herbal remedy to develop a new treatment--PH46A--for inflammatory bowel disease, or IBD. Fountain Healthcare Partners, an Irish VC group, joined the Wellcome Trust in the initial round for Trino, which now has the cash to get through Phase IIa as it seeks a collaborator. Story