Impact Therapeutics, Inc., a Nanjing, China-based clinical-stage biopharmaceutical company dedicated to the discovery and development of medicine for the treatment of cancer and other life-threatening diseases, completed $30m series C financing.
The round was led by Decheng Capital, with participation from existing investor Lilly Asian Ventures (LAV).
The company intends to use the funds for the clinical development of IMP4297, a potential best-in-class PARP inhibitor, and to advance its integrated programs targeting DNA Damage Response (DDR).
Led by Dr. Ye Edward Tian, CEO, and Dr. Sui Xiong Cai, SVP and CTO, Impact is committed to the discovery and development of therapeutics to treat cancer and other life-threatening diseases. Its leading program, PARP inhibitor IMP4297, is currently undergoing phase I trials in Australia and China.
PARP inhibitors are targeted therapies for cancer patients with defects in DNA repair mechanisms, such as with BRCA1and BRCA2 mutations. Three PARP inhibitors, which have been shown to be tolerable and effective in clinical studies, have already been approved for marketing outside of China. IMP4297 has demonstrated a safety profile and good preliminary efficacy in phase I clinical trials in Australia and China, which is consistent with the high potency and large therapeutic window found in pre-clinical studies.