D3 Bio, a global clinical-stage biotechnology company focused on the discovery and development of innovative oncology therapeutics, has announced the completion of a $108 million Series B financing round.
The funding round was backed by a distinguished group of investors, including IDG Capital and SongQing Capital, D3 Bio said in a statement on Tuesday.
Its existing investors — WuXi AppTec’s Corporate Venture Fund, Temasek, HSG, MPCi, and Medicxi — also contributed to the round.
The robust involvement from both new and current investors highlights widespread confidence in D3 Bio’s innovative pipeline and its global development strategy.
Proceeds from this financing will primarily support the planned global Phase III pivotal program for the company’s lead asset, elisrasib (D3S-001).
These pivotal trials will assess elisrasib as both a monotherapy and in combination therapies for KRAS G12C-mutant cancers across key countries and regions, including the United States, China, and the European Union, to facilitate global regulatory submissions.
Furthermore, the funding will facilitate ongoing development of D3 Bio’s comprehensive pipeline of targeted and immuno-oncology programs, which are centered on innovative mechanisms with first-in-class or best-in-class potential.
“The completion of our Series B financing demonstrates the strong confidence our investors place in our vision, scientific approach, business operations, and global development capabilities,
“This funding enables us to advance our lead program into late-stage clinical trials and further expand our pipeline of innovative therapies designed to benefit patients globally,” said Dr. George Chen, Founder, Chairman, and Chief Executive Officer of D3 Bio.
Dr. Antoine Yver, Member of the Board of Directors and Scientific Committee of D3 Bio, stated this financing demonstrates that the swift and effective pursuit of the best- or first-in-class science is meaningful to society, and validates D3 Bio’s leading innovation, scientific vision and development strategy.
“It also highlights the unique potential of elisrasib for individuals affected by KRAS G12C-mutant cancers,” he added.