Nikang therapeutics has raised $200 million in a Series C fundraising for the development of new smaller molecular entities to target difficult to treat cancer areas. This fundraising program was headed by HBM Healthcare Investments, Cormorant Asset Management, and Octagon Capital Advisors.
Perceptive Advisors, Ally Bridge Group, EcoR1 Capital, Wellington Management were among those who participated in the financing round, and this was also attended by the current shareholders of Nikang, including CBC Group, Lilly Asia Ventures, RTW Investments, Casdin Capital, and Matrix Partners China.
Bing Yao, the former CEO and chairman of Viela Bio, and Ting Jia, Chief Investment Officer and founder of Octagon Capital will represent as the members of the board of directors of Nikang in this funding round.
The funds, according to the company, will be used to promote the clinical research of its leading drug product, expand its pipeline, and assist in the drug discovery and development program.
Zhenhai Gao, President, CEO, and Co-founder of Nikang Therapeutics said: “We are thrilled to have such an outstanding group of investors as our shareholders. Their support of our vision allows us to build the world’s leading precision oncology company.
“We are now well-positioned to rapidly advance our pipeline into the clinic, including our differentiated HIF-2 alpha inhibitor, and to bring our company to the next level of growth.”