BRIEF—IMPACT Therapeutics raises funds to support PARP inhibitor development program

Chinese biopharma company IMPACT Therapeutics today announced the completion of $30 million in series C financing.

The series C round was led by Decheng Capital (Decheng), with participation from existing investor Lilly Asian Ventures (LAV).

Proceeds from the series will be used for the clinical development of IMP4297, a potential best-in-class PARP inhibitor, and to advance IMPACT's integrated programs targeting DNA Damage Response (DDR).

PARP inhibitors are targeted therapies for cancer patients with defects in DNA repair mechanisms, such as with BRCA1 and BRCA2 mutations.

Three PARP inhibitors, which have been shown to be tolerable and effective in clinical studies, have already been approved for marketing outside of China.

IMP4297 has demonstrated an excellent safety profile and good preliminary efficacy in Phase I clinical trials in Australia and China, which is consistent with the high potency and large therapeutic window found in pre-clinical studies.