Chi­na biotech In­xMed bags $19M Se­ries A+ to de­vel­op PhI FAK in­hibitor

Near­ly a year af­ter Nan­jing, Chi­na-based In­xMed bagged its first-ever IND ap­proval, the com­pa­ny has raked in ¥130 mil­lion (about $19 mil­lion) in a Se­ries A+ to de­vel­op its fo­cal ad­he­sion ki­nase (FAK) small mol­e­cule in­hibitor pro­gram.

The fi­nanc­ing round — led by En­no­va­tion Ven­tures and Chi­na Growth Cap­i­tal and joined by In­noMed Cap­i­tal and Grand Yangtze Cap­i­tal — will al­low the com­pa­ny to push its lead drug, IN10018, through the clin­ic for mul­ti­ple can­cer in­di­ca­tions. The com­pa­ny said it pre­vi­ous­ly raised “tens of mil­lions” in US dol­lars in Se­ries A fi­nanc­ing.

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