IDRx raises $120 million to advance GIST drug
US precision oncology company IDRx has announced the completion of an oversubscribed $120 million series B preferred stock financing.
The financing was led by RA Capital Management, Commodore Capital, and Blackstone Multi-Asset Investing.
IDRx plans to use the proceeds from the financing to support the ongoing Phase I/Ib StrateGIST 1 study of its lead product candidate IDRX-42, a potent, oral, highly selective KIT inhibitor targeting all major categories of activating and resistance mutations in patients with KIT-mutant gastrointestinal stromal tumor (GIST).
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