InxMed completes 130 million renminbi financing

4 September 2020

Chinese biotech InxMed (Nanjing) says that it has completed its Series A+ financing of 130 million renminbi (~$19 million), which was led by Ennovation Ventures and China Growth Capital and followed by InnoMed Capital and Grand Yangtze Capital.

The funding will support the acceleration of IN10018 clinical program and expand InxMed's portfolio. IN10018 is a potent and selective ATP-competitive focal adhesion kinase (FAK) small molecule inhibitor, with three indications undergoing clinical trials in the USA, Australia and China. These indications include uveal melanoma and NRAS mutant metastatic melanoma, diffuse gastric cancer and platinum-resistant ovarian cancer.

InxMed owns the exclusive global rights for development and commercialization of IN10018. The funding will also help to strengthen the company's highly efficient translational platform and enrich differentiable pipeline to enable the company's "best-in-disease combination" strategy.

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