D3 Bio, a global, clinical-stage biotech company that counts Singapore’s Temasek Holdings and Boyu Capital among its investors, has closed a $62-million Series A+ round of financing to advance its pipeline of cancer drugs.
The Shanghai-based startup closed the Series A+ round with $40 million from the lead investor Medicxi, a European life sciences investment firm, the two companies jointly announced on Monday.
Existing investors including Matrix Partners China and the corporate venture fund of Chinese biopharmaceutical firm WuXi AppTec participated in the deal.
The Series A+ round came over three years after the establishment of D3 Bio in November 2020 with a Series A investment of $200 million from Boyu Capital, Matrix Partners China, Temasek, WuXi AppTech, and HongShan, which was then known as Sequoia Capital China.
The new financing will allow 3D Bio to expedite the development of its assets through preclinical and clinical stages, with a focus on accelerating the global clinical trial of D3S-001, said the startup.
D3S-001, a new-generation small molecule KRAS G12C inhibitor, is currently under Phase II development targeting the treatment of non-small cell lung cancer, colorectal cancer, and pancreatic cancer.
“D3 Bio has built a pipeline of multiple oncology programmes, which hold significant promise for developing future therapies across various indications,” said Dr. George Chen, chairman and CEO of D3 Bio.
Medicxi will come in as a new investor and partner, said Chen. He said that the partnership with Medicxi – whose funds are invested by industry giants like Johnson & Johnson, Novartis, and Verily, Alphabet Inc’s life sciences research organisation – not only validates the potential of D3 Bio’s portfolio but also propels its mission to “advance breakthroughs in cancer treatment.”
The fundraising development followed the appointment of Antoine Yver as the new independent board member of D3 Bio in early March. Yver previously led cancer drug development at Daiichi Sankyo and AstraZeneca.
