Temasek-backed D3 Bio secures $108 M Series B funding to advance global clinical programs
A $108 million Series B financing round has been completed, according to D3 Bio, a global clinical-stage biotechnology company dedicated to the discovery and development of novel oncology therapeutics.
A notable group of investors, including IDG Capital and SongQing Capital, supported the funding round, according to a statement released by D3 Bio on Tuesday.
The round also included contributions from its current investors, including Temasek, HSG, MPCi, Medicxi, and WuXi AppTec’s Corporate Venture Fund.
The strong participation of both new and existing investors demonstrates the general trust in D3 Bio’s cutting-edge pipeline and its worldwide development approach.
The planned worldwide Phase III pivotal program for the company’s main product, elisrasib (D3S-001), will be the main beneficiary of the financing’s proceeds.
In order to support international regulatory submissions, these pivotal trials will evaluate elisrasib as a monotherapy and in combination therapies for KRAS G12C-mutant cancers in important nations and regions, such as the US, China, and the EU.
Additionally, the funding will support the continued development of D3 Bio’s extensive pipeline of immuno-oncology and targeted programs, which are focused on novel 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.
According to Dr. Antoine Yver, a member of D3 Bio’s board of directors and scientific committee, this funding validates D3 Bio’s leading innovation, scientific vision, and development strategy and shows that the quick and efficient pursuit of the best or first-in-class science is meaningful to society.
“It also highlights the unique potential of elisrasib for individuals affected by KRAS G12C-mutant cancers,” he added.
