Medicxi injects $40M into D3 Bio's oncology pipeline

2024-04-08

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Medicxi on Monday announced a $40-million investment to advance Shanghai-based biotech D3 Bio's pipeline of oncology compounds, several of which are already in clinical trials.

George Chen, chief executive at D3 Bio, said Medicxi's lead investment along with contributions from existing backers, has allowed the company to successfully close its Series A+ round. The startup, which launched in 2020 with $200 million in hand, has raised $250 million to date with help from the likes of Boyu Capital, Matrix Partners China, HongShan, Temasek, and WuXi AppTec's Corporate Venture Fund.

Targeting immune pathways, mutations

The company said its most advanced asset, a KRAS drug called D3S-001, has "differentiated properties" that could address the significant unmet need in cancers driven by KRAS G12C mutations. D3S-001 is currently in Phase II for non-small-cell lung cancer, colorectal cancer, and pancreatic cancer.

The pipeline also includes the Phase I candidate D3S-002, a "distinctively designed" ERK1/2 kinase inhibitor that has shown early signs of activity, selectivity, and a favourable safety profile, according to the company. "The combination of D3S-002 and D3S-001 has demonstrated promising and synergistic antitumour activity in preclinical models," it added.

Meanwhile, D3 Bio said another Phase I asset, the bispecific D3L-001, has also demonstrated "potent and synergistic anti-tumour effect via HER2-guided CD47 co-blocking" in both in vitro and in vivo models.

The investment in D3 Bio adds to Medicxi's portfolio of life sciences companies. Earlier this year, the firm merged six of its dermatology-focused companies to form Alys Pharmaceuticals, a new drugmaker focused on developing novel therapies in the immuno-dermatology space.

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