Insilico Biotechnology Completes RMB 130 Million Series A+ Financing to Accelerate Clinical Development and Pipeline Expansion

Inxmed Biotech (Nanjing) Co., Ltd. (“Inxmed”), an emerging biotechnology company dedicated to developing innovative, personalized medicines with global impact, announced that it has recently completed a RMB 130 million Series A+ financing round. The round was co-led by the Qirui Youkang Sci-Tech Investment Fund of Nanjing Jiangbei New Area (a fund under Ennovation Ventures) and China Growth Capital, with participation from InnoMed Capital and Grand Yangtze Capital.

It is understood that the funds raised in this round of financing will be used to accelerate the clinical development of IN10018 and expand its pipeline portfolio. IN10018 is a highly potent and selective ATP-competitive focal adhesion kinase (FAK) inhibitor currently under development for the treatment of various cancers, including uveal melanoma, NRAS-mutant metastatic melanoma, diffuse gastric cancer, and platinum-resistant ovarian cancer. The drug has made rapid progress in clinical development over the past year, with three clinical trials currently underway in the United States, Australia, and China, and patient enrollment proceeding smoothly. Inxmed holds exclusive global rights for the development and commercialization of this compound. Meanwhile, this round of financing will also help strengthen the company’s efficient translational medicine platform, support the development and introduction of differentiated global innovative drugs, and further optimize its product pipeline based on the “best combination therapy R&D strategy.”

Dr. Wang Zaiqi, Founder and CEO of Inxmed, stated, “The successful completion of this round of financing has provided significant support for Inxmed to strengthen its R&D capabilities and enrich its product pipeline. This financing round demonstrates investors’ full affirmation of our progress in existing product development and our R&D strategy. Guided by our understanding of disease biology and targets, and addressing unmet clinical needs, the Company will comprehensively implement a ‘best-in-class combination therapy development strategy.’ While expanding our product pipeline, we will seek strategic partners globally to provide cancer patients with the safest and most effective optimal treatment regimens.”

Dr. Zaiqi Wang, Founder and CEO of Inxmed

Xiong Weiming, Partner at China Growth Capital and co-lead investor in this round, stated, “We strongly endorse Inxmed’s ‘optimal combination therapy development strategy.’ Combination therapies are currently a key focus in oncology treatment and hold immense potential. Furthermore, the background of Inxmed’s management team is impressive. The entire executive team possesses R&D management experience from top multinational pharmaceutical companies such as Merck & Co., Roche, GlaxoSmithKline, and Johnson & Johnson. We are delighted to collaborate with the Inxmed team led by Dr. Wang Zaiqi. In recent years, China Growth Capital has intensified its efforts in the healthcare and pharmaceutical innovation sectors, committed to growing alongside leading companies. We will provide robust support in terms of capital and resources to facilitate Inxmed’s rapid development and benefit patients.”

Regarding this investment, Dr. Chen Renhai, Founding Partner of ENNOVATION VENTURESS and co-lead investor in this round, stated, “We are delighted to support Inxmed in accelerating its product development and pipeline expansion at this critical juncture in the company’s growth. ENNOVATION VENTURESS has long been committed to investing in the biopharmaceutical and healthcare sectors. We have full confidence in the growth prospects of Inxmed’s existing products and the strategic layout of its future product pipeline. Moving forward, we will fully leverage our resources in the healthcare sector to help Inxmed become a world-class biotechnology innovation company.”

Inxmed, founded in late 2018, is an emerging biotechnology company in the clinical development stage. Driven by disease biology as the source of innovation, the company is committed to building a high-efficiency engine for clinical translation and proof-of-concept, aiming to become a novel drug R&D enterprise rooted in China with global impact. Inxmed has completed tens of millions of dollars in financing, established high-level R&D and clinical teams across Shanghai, Beijing, the United States, Canada, and Australia, and built a globally patented pipeline oriented toward “best-in-class combination therapy development.” The company has also formed partnerships with numerous multinational pharmaceutical companies, including Merck & Co., Roche, and Boehringer Ingelheim.

China Growth Capital is a top-tier early-stage investment firm in China, providing venture capital to startups during their initial phases. While primarily focused on the Chinese market, it also maintains a presence in Silicon Valley, USA. Since its establishment in 2006, China Growth Capital has concentrated on early-stage investments in sectors such as software and services, technology and frontier innovations, and industry and consumption. Leveraging its extensive resources and expertise, the firm assists its portfolio companies with strategic planning, business expansion, and team building. China Growth Capital is a leading investor in China’s fintech and enterprise software and services sectors, and ranks among the country’s premier angel investment institutions. Currently, the firm manages RMB and USD funds totaling RMB 8 billion, with investments spanning from angel rounds to Series C, ranging from several million to hundreds of millions of RMB. Its portfolio includes Smzdm (300785.SZ), Missfresh, Xiachufang, Wish, Klook Travel, Tongdun Technology, QuantPai, Tiger Brokers (NASDAQ: TIGR), Bielyihong, 2D Fire, PingCAP, DeepHi, Aibee, HuiLian Wuxian, and LandSpace.

ENNOVATION VENTURESS, established in 2015, is a venture capital firm specializing in the biopharmaceutical and healthcare sectors. Its management team and investors possess extensive investment and industry expertise in these fields. Upholding the core values of “Life,” “Health,” and “Innovation,” ENNOVATION VENTURESS actively invests in revolutionary new technologies, products, and business models within the global biomedical and health industries. Adhering to a proactive investment philosophy, the firm has invested in projects such as innovative drugs targeting novel mechanisms, improved new drugs, high-end generic drugs, tumor molecular biology testing, molecular diagnostics, and medical data services. Through professional post-investment management, ENNOVATION VENTURESS helps portfolio companies enhance their core competitiveness and drives efficient value appreciation for its investments.