D3 Bio, a global biotechnology company announced the launch of a USD 200 million Series A financing by a number of investors to support its portfolio in the development of precision medicine to address unmet patient needs in oncology and immunology
The Series A funding announced by D3 Bio was financed by Boyu Capital, Matrix Partners China, Sequoia Capital China, Temasek, and WuXi AppTec’s Corporate Venture Fund, among others. The funding will support the development of D3 Bio’s portfolio in oncology and immunology.
D3 Bio focuses on developing and commercializing precision medicines to improve or replace existing standard-of-care treatments that do not fully meet patient needs.
“Our mission at D3 Bio is to build a global biotechnology company that develops innovative and more efficacious medicines for patients worldwide,” said George Chen, MD, co-founder, Chairman and CEO of D3 Bio. “The financing and support of our approach by reputable institutional investors give us a great start as we begin our journey to transform drug development to accomplish our mission.”
D3 Bio brings a unique approach to drug discovery and development. Rather than only following laboratory insights wherever they may lead, the biotech company surveys the clinical landscape to identify areas of major unmet need in which existing standard-of-care approaches yield unsatisfactory clinical outcomes.
Harnessing insights from clinical development, D3 Bio identifies new disease targets and delivery methods in immunology and oncology to match patients with optimal therapies to treat their diseases. D3 Bio anticipates that having a clear understanding during preclinical development both of relevant cancer biomarkers and the therapeutic improvement or replacement goals will make drug discovery and development as efficient and focused as possible.
“Our R&D programs in oncology and immunology are designed to address current unmet clinical needs and to provide the structure, or ‘backbone,' upon which future drugs can be developed. D3 Bio intends to create a robust portfolio comprised of internal core assets that can be leveraged for follow-on development as well as in-licensed early-stage clinical assets,” explained Dr Chen. “We expect our entire portfolio to enable discovery and development of additional indications and combination regimens. This cycle of drug development that allows for subsequent discovery and innovation is at the core of D3 Bio. In fact, it underlies our name: Development leading to Discovery that then leads back to more Development, or D3 Bio.”
D3 Bio is building a seasoned, agile drug development and business management team. Dr Chen an oncologist by training, has a successful track record in the multinational pharmaceutical industry. After receiving his medical degree from the Shanghai Medical College of Fudan University and his MBA from the Wharton School of Business at the University of Pennsylvania, he held senior research, management, business development, medical affairs and drug development positions at leading institutions and multi-national companies, including the National Institutes of Health, Eli Lilly, GlaxoSmithKline, Johnson & Johnson and AstraZeneca. Dr Chen’s experience includes regulatory registrations and market introductions of blockbuster drugs in both the US and Chinese markets, including more than 70 Investigational New Drug (IND) and more than 30 New Drug Application (NDA) approvals.
D3 Bio takes advantage of the diverse, world-class resources of the second largest global pharmaceutical market, including academic research, hospitals and investigators, clinical research organizations, venture capital and broad development talent.
“Leveraging these resources, we expect to accelerate development and delivery of novel, life-transforming therapeutics to serve patients worldwide,” said Dr Chen. “Our strong and agile team of scientific innovators and business executives are experienced in discovery, development and commercialization of important, world-class pharmaceuticals that have achieved blockbuster status on a global basis. We anticipate D3 Bio’s development program in China will be closely followed by ones in other major global markets.”
“We believe that a tremendous amount of medical innovation will be created by D3 Bio coupling China’s talent pool with the global R&D ecosystem,” said Cao Yanling, a Partner at Boyu Capital. “We share D3 Bio’s vision of developing innovative drugs by integrating deep clinical insights with creative science and technology. D3 Bio’s founders and management team have already demonstrated strong track records and leadership in delivering many first-in-class and blockbuster medications into China from major international pharmaceutical companies.”
Dr Chen adds, “We want to thank the investors in this blue-chip syndicate for their support of our business model. We are now well-positioned to advance the clinical development of our robust pipeline of precision medicines.”