Ying Biotherapeutics Secures $15 Million Series B+ Financing to Advance Global Innovative Clinical Pipeline

Nanjing, China, May 9, 2022 – InxMed Limited (hereinafter referred to as “InxMed” or the “Company”), a global innovative drug R&D company focused on overcoming resistance in solid tumors and fibrosis of the tumor microenvironment, announced that it has completed a $15 million Series B+ financing round, exclusively invested by Huiding Investment.

The funds raised in this financing round will be used to support the ongoing concurrent clinical trials of IN10018 in China and the United States, which evaluate the drug across multiple cancer types using various combination regimens. These efforts include a pivotal Phase II/III trial targeting platinum-resistant ovarian cancer, scheduled to initiate in the second half of the year with the goal of securing marketing approval, as well as the development and strategic layout of subsequent innovative global pipeline products.

IN10018 is a highly potent and selective inhibitor of focal adhesion kinase (FAK). It is being developed for multiple solid tumor indications with limited treatment options, including platinum-resistant ovarian cancer, NRAS-mutant metastatic melanoma, triple-negative breast cancer, head and neck cancers, and pancreatic cancer. The drug received Fast Track designation from the U.S. Food and Drug Administration (FDA) in August 2021 and was granted Breakthrough Therapy Designation by China’s National Medical Products Administration (NMPA) in April this year. The company expects to disclose preliminary clinical data at the ASCO Annual Meeting in June this year.

InxMed holds the exclusive global rights to develop and commercially operate IN10018. The company’s Nanjing Translational Medicine Center has conducted extensive original exploratory research on IN10018 and the FAK target, with findings successively published in high-impact academic journals. Relevant data indicate that IN10018 has the potential to overcome the fibrotic barrier of the tumor stroma and enhance local immune function, thereby acting synergistically with targeted therapies, chemotherapy, and immunotherapy, emerging as a new option for combination regimens. Clinical data on IN10018 have further confirmed its favorable safety profile and efficacy across multiple cancer types.

In addition to advancing the global clinical development of IN10018, this round of financing will further accelerate the progress of the company’s other innovative clinical pipelines. Multiple novel drug projects featuring new targets and mechanisms are expected to sequentially receive Investigational New Drug (IND) approval and initiate clinical trials in both China and the United States this year. These candidate drugs are strategically designed to address various resistance mechanisms and the fibrotic microenvironment associated with diverse types of solid tumors, and active communications and preparations with relevant regulatory authorities are currently underway.

Dr. Wang Zaiqi, Founder and CEO of InxMedstated: “Since its establishment over three years ago, InxMed has consistently adhered to a disease-mechanism-driven approach, developing global innovative drugs of international standards to address unmet clinical needs. Building on the completion of our Series B financing earlier this year, we have rapidly closed our Series B+ round, which underscores investors’ strong confidence and full recognition of the progress of our current pipeline, our future strategic layout, and our overall R&D strategy. With extensive in-house independent research being conducted at our Nanjing R&D and Translational Medicine Center, our understanding of drug resistance mechanisms and microenvironmental fibrosis in solid tumors continues to deepen. We have strategically structured our pipeline with diverse targets, mechanisms, and combination therapies across multiple tumor types, and numerous clinical trials are advancing rapidly in both China and the United States. Furthermore, we are actively engaging with global strategic partners to maximize the clinical value of our pipeline.”

Dr. He Xin, Managing Partner at Huiding Investment Management“We are delighted to have the opportunity to support InxMed’s development through this round of investment. InxMed boasts a first-class innovative drug R&D team and exceptional translational medicine capabilities. Focusing on unmet clinical needs, the company independently develops innovative drugs with internationally leading standards, grounded in a deep understanding of disease biology. Amidst the broader challenges facing China’s innovative drug industry, InxMed’s global innovation capabilities, efficient team execution, highly synergistic pipeline layout, and compelling clinical efficacy data strongly demonstrate the company’s value and growth potential. Huiding Investment is committed to supporting enterprises with global technological innovation, and we are very optimistic about InxMed’s future R&D progress and internationalization prospects.”

InxMed, founded in 2018, is an emerging biotechnology company currently engaged in global clinical-stage research and development. The company’s core focus lies in the development of innovative therapeutics targeting the fibrotic tumor microenvironment, with an emphasis on overcoming drug resistance and metastasis in solid tumors that lack effective treatment options. Leveraging translational medicine as the source of innovation and capitalizing on its strong clinical capabilities, InxMed is committed to building an efficient platform spanning disease biological mechanism research, innovative drug discovery, clinical translation, and proof-of-concept studies, aiming to become a globally oriented new drug R&D enterprise. The company has established teams in Shanghai, Beijing, and Nanjing in China, and boasts a high-caliber translational medicine and clinical development team across China, the United States, Canada, and Australia. Through independent innovation, product licensing, and co-development initiatives, InxMed has constructed a unique and robust global R&D pipeline, striving to achieve “First-in-Class” and “Best-in-Class” status.

Huiding Investment brings together a team of senior partners from China’s leading investment institutions, founded by professionals with extensive experience in startup operations, implementing overseas technologies in the Chinese market, and deep industry resources. Committed to integrating global technological innovations and focusing on the upgrading of China’s healthcare industry, Huiding leverages its accumulated clinical and industry expertise to drive enterprise growth. The firm maintains a strong vertical focus on high-growth, high-barrier sectors such as immunology, regenerative medicine, and precision medicine. By pooling resources, Huiding aims to empower Chinese companies to become industry leaders.