
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.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.