D3 Bio Secures $62M in Series A+ Financing for Cancer Drug Development

09 April 2024 | Tuesday | News

Funding to Boost Trials of Promising KRAS Inhibitor, Signaling Major Advances in Oncology
Image Source : Public Domain

Image Source : Public Domain

 D3 Bio, an emerging global biotechnology company that focuses on discovery, development, and registration of innovative cancer drugs announces its closing of Series A+ financing round led by Medicxi, a leading European life sciences investment firm. D3 Bio's existing investors, Matrix Partners China and WuXi AppTec's Corporate Venture Fund also participated.


The substantial investment of US$62M in this round underscores D3 Bio's steadfast commitment to advancing its pioneering oncology pipeline. The funding will be allocated to expedite the development of D3 Bio's assets through preclinical and clinical stages, with a particular focus on accelerating the global clinical trial of D3S-001, a new generation small molecule KRAS G12C inhibitor with the best-in-class potential. D3S-001 is currently in phase II development in non-small cell lung cancer, colorectal cancer and pancreatic cancer.

"D3 Bio has built a pipeline of multiple oncology programs, which hold significant promise for developing future therapies across various indications. We are delighted to have Medicxi as both a new investor and a partner. This partnership not only validates the potential of our portfolio but also furnishes resources to propel our mission to advance breakthroughs in cancer treatment to transform the lives of patients across the globe." remarked Dr. George Chen, Chairman, and CEO of D3 Bio.

Francesco De Rubertis, Co-founder and Partner at Medicxi, commented: "Our mission is to support the innovative genius of entrepreneurs by providing the critical capital, expertise and experience that form the all-important 'bridge' to pharma. George and his team are exceptional drug innovators focused on developing new treatments where there are enormous unmet patient and market needs."


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