An international syndicate, led by Medicxi Ventures of the UK, has invested in a Chinese biotech company which is building a portfolio of small molecule drugs and biologics to treat cancer. The recipient, D3 Bio of Shanghai, has three compounds in clinical development, and aspires to build a portfolio around multiple oncology programmes and indications. The newest round, announced on 8 April, raised $62 million of which Medicxi contributed $40 million. This brings total funding for the company up to $250 million.
Besides Medicxi, which is based in London, D3 Bio’s investors include Boyu Capital, a private equity group located in Hong Kong; Matrix Partners China and HongShan of Beijing; and Temasek, a fund based in Singapore. The corporate venture arm of the Chinese contract development and manufacturing organisation WuXi AppTec is also an investor.
D3 Bio’s lead product, D3S-001 is a small molecule drug for patients with cancers harbouring KRAS G12C mutations. These include patients with non-small cell lung cancer and pancreatic and colorectal cancers. Two Phase 2 trials are investigating D3S-001 as a monotherapy in lung and pancreatic cancer, while two are testing it as a combination therapy for lung and colorectal cancer.
A second small molecule drug targets the ERK1/2 signalling pathway in cancer, and a third is a bispecific antibody for HER2 mutant cancers. In connection with the financing, Francesco De Rubertis, partner at Medicxi, will join D3 Bio’s board of directors. D3 Bio’s co-founder and chief executive is George Chen, a former executive of AstraZeneca Plc.
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