NiKang Therapeutics Raises $200M in Series C Financing

cancer

NiKang Therapeutics Inc., a Wilmington, Del.-based clinical stage biotech company focused on developing innovative small molecule oncology medicines, closed a $200m series C financing.

The round was led by Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital Advisors with participations from a premier syndicate of funds, including new investors EcoR1 Capital, Perceptive Advisors, Wellington Management, Ally Bridge Group, Pavilion Capital, funds and accounts managed by BlackRock, RA Capital Management, Surveyor Capital (a Citadel company), Samsara BioCapital, PFM Health Sciences, Invus, Janus Henderson Investors and Logos Capital. All existing investors including CBC Group, RTW Investments, LP, Lilly Asia Ventures, Matrix Partners China, and Casdin Capital participated in the financing. In connection with the financing, Bing Yao, Ph.D., former CEO and chairman of Viela Bio, and Ting Jia, Ph.D., founder, and chief investment officer of Octagon Capital Advisors will join NiKang’s Board of Directors.

Proceeds will be used to advance the company’s lead drug candidates into the clinic, expand the pipeline and fund internal drug discovery programs.

Led by Zhenhai Gao, Ph.D., co-founder, president, and chief executive officer, NiKang is a clinical stage biotech company focused on discovering and developing innovative small molecules oncology medicines whose target selection is driven by deep insights into disease biology and molecular pathways. The discovery approach is informed by target structure biology and capitalizes on structure-based drug design.

FinSMEs

31/05/2021