On September 4, 2020 InxMed (Nanjing) Co., Ltd., a Nanjing, China-based clinical stage biotech company dedicated to developing innovative, individualized medicines with international impact, reported that it has completed a Series A+ financing of approx. US$19m (Press release, InxMed, SEP 4, 2020, View Source [SID1234564495]).

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The round was led by Ennovation Ventures and China Growth Capital and followed by InnoMed Capital and Grand Yangtze Capital.

The company intends to use the funds to accelerate its IN10018 clinical program and expand the portfolio, which include IN10018, 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 translational platform and enrich differentiable pipeline.

Led by Dr. Zaiqi Wang, Chairman and CEO, InxMed is a clinical-stage biotech company focusing on developing medicines to bring novel treatment option for patients. Established in the end of 2018, the company has raised tens of millions of US dollars in financing, established an integrated research and clinical development team across Shanghai, Beijing, United States, Canada and Australia, built a differentiated pipeline, and established licensing or co-development partnership with various multinational pharmaceutical companies.