Upstart women’s oncology company in-licenses PhII PARP; Beijing biotech grabs $29M startup round

George Elston, 2X Oncology

⇨ A Cambridge, MA-based startup named 2X Oncology has in-licensed a mid-stage PARP inhibitor from Eisai. A spin-out of Oncology Venture, their web site says new CEO George Elston is working with $3.5 million in seed cash and is looking for a $25 million Series A. This new clinical-stage effort advances their plans to use proprietary biomarker tech to match their drugs with women whose cancer is most likely to respond to therapy. Eisai’s E7449 will now be called 2X-121. There have been a slate of new PARP inhibitors moving into the market this year, following AstraZeneca’s success with Lynparza.

⇨ China’s Qiming Venture Partners has led a $29 million A round for Sino Biological, a Beijing-based biotech working on recombinant protein and antibodies.

⇨ Fast-growing Jazz Pharmaceuticals has inked a new lease on 46,000 square feet in Philadelphia. A company spokesman told the Philadelphia Inquirer that the company is consolidating its operations in the area.

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