D3 Bio Completes A+ Round Financing, Accelerates Development of Product Pipeline

Healthcare Author: Notrice Apr 12, 2024 06:05 PM (GMT+8)

EqualOcean has learned that on April 8, 2024, D3 Bio(德昇济医药), a biotechnology company focused on the development and commercialization of innovative cancer and immune precision therapies, announced the successful completion of its A+ round financing led by Medicxi, a prominent European life sciences investment firm. The financing amounted to USD 62 million, with existing investor, Matrix Partners(经纬创投), also participating.

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Established in August 2020, D3 Bio is dedicated to the research and commercialization of cancer and immune precision therapies. Since its inception, D3 Bio has remained committed to developing therapeutics with significant clinical value, aiming to become a global leader in the biotechnology field.

According to EqualOcean, the funds raised in this financing round will primarily be used to advance D3 Bio's drug development in pre-clinical and clinical stages, particularly focusing on the global clinical trials of its flagship product, D3S-001.

D3S-001 is a next-generation small molecule KRAS G12C inhibitor with leading potential in the industry. It has already entered the global Phase II clinical development, primarily targeting indications such as non-small cell lung cancer, colorectal cancer, and pancreatic cancer.

Dr. Chen Zhijian(陈之键), Chairman and CEO of D3 Bio, has previously stated that the company has established a pipeline of projects with significant potential to change the landscape of cancer treatment in the future.

Over the past four years since its establishment, D3 Bio has successfully completed multiple rounds of financing, including a USD 200 million Series A financing in November 2020, with investors such as Boyu Capital(博裕资本), Matrix Partners(经纬中国), HongShan(红杉中国), Temasek(淡马锡)and the WuXi AppTec Venture Capital(药明康德风险投资基金).

D3 Bio represents a microcosm of Chinese biopharmaceutical companies accelerating their international expansion. In recent years, companies like Innocare Pharma(诺诚健华), Kelun Pharmaceutical(科伦药业), and BGI Genomics(华大基因) have been vigorously expanding their presence in developed countries such as Europe and the United States, speeding up their second growth curve.

The funds raised in this financing will continue to be used for the development of D3 Bio's product pipeline, particularly to drive forward the global clinical trial process of D3S-001.