InxMed Raised $50M in Series B Financing

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InxMed Co., Ltd, a Nanjing, China-based clinical-stage biotechnology company dedicated to developing innovative therapies targeting stroma microenvironment and drug resistance for hard-to-treat solid tumors, completed $50m Series B Financing.

The round was led by CS Capital, with participation from AIHC Fund, Growth Fund and Hosencare Fund, as well as existing backer Ennovation Venture. 

The company will use the funds to accelerate ongoing clinical trials of IN10018 for multiple cancer types in both US and China, including the initiation of pivotal trials, and advance more stroma targeting pipelines into clinics in both US and China this year, and strengthen the R&D capabilities in Nanjing.

Led by Dr. Zaiqi Wang, Founder and Chief Executive Officer, InxMed is a clinical-stage biotech company dedicated to developing innovative therapies targeting stroma microenvironment and solid tumor resistance and metastasis, especially new drug development on anti PD-1/PD-L1 treatment drug resistance.

IN10018 is a potent and selective ATP-competitive focal adhesion kinase (FAK) small molecule inhibitor, with multiple indications in ongoing clinical trials including NRAS mutant Metastatic Melanoma, Platinum-resistant Ovarian Cancer and Triple Negative Breast Cancer, etc. U.S. Food and Drug Administration (FDA) has granted Fast Track designation to IN10018 for the treatment of platinum-resistant ovarian cancer patients in August 2021 based on the promising preliminary efficacy data. 

The company has built translational medicine and clinical development team across Shanghai, Beijing, Nanjing, United States, Canada and Australia and a differentiated pipeline and established partnership with various multinational pharmaceutical companies including Merck, Roche and Boehringer Ingelheim.