D3 Bio, a clinical-stage biotech company developing innovative oncology therapeutics for patients globally, has raised $108 million in a Series B round to finance the pivotal trials of its lead asset.
China-headquartered D3 Bio, which operates from offices in Wuxi and Shanghai, announced on Wednesday its completion of the new round from investors including IDG Capital and SongQing Capital. Existing investors, namely WuXi AppTec’s corporate venture fund, Temasek, HongShan Capital Group (HSG), Medicxi, and MPCi (previously Matrix Partners China), also contributed to the deal, said the startup in a statement.
The startup plans to use the proceeds to primarily support the planned global Phase III pivotal programme for its 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 US, EU, and China to facilitate global regulatory submissions, according to its statement.
Furthermore, the new funding will facilitate the ongoing development of D3 Bio’s pipeline of targeted and immune-oncology programmes, which are centred on innovative mechanisms with first-in-class or best-in-class potential.
“This funding enables us to advance our lead programme 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 CEO of D3 Bio.
The Series B round marks the third sizeable investment in D3 Bio, just over five years after the startup was founded in November 2020 with a $200-million Series A financing from Boyu Capital, MPCi, HSG, Temasek, and WuXi AppTec, among others. In April 2024, it closed a Series A+ round at $62 million.
