Precision medicine developer D3 Bio launched in China yesterday with $200m in series A funding from investors including pharmaceutical firm WuXi AppTec’s Corporate Venture Fund.
Private equity firm Boyu Capital, Singaporean government-owned investment firm Temasek and venture capital firms Matrix Partners China and Sequoia Capital China also contributed to the round.
D3 Bio has assessed the breadth of medical treatments to identify areas with unmet need where it can target its drug pipeline. It is working on cancer and immunology therapeutics intended to function as the optimal treatments for certain groups of patients.
George Chen, D3Bio’s co-founder, chairman and CEO, said: “Our [research and development] programmes in oncology and immunology are designed to address current unmet clinical needs and to provide the structure, or ‘backbone’, upon which future drugs can be developed.
“D3 Bio intends to create a robust portfolio comprised of internal core assets that can be leveraged for follow-on development as well as in-licensed early-stage clinical assets. We expect our entire portfolio to enable discovery and development of additional indications and combination regimens.”
