Medicxi Announces $40m investment in D3 Bio

• Investment will support development of a differentiated pipeline in oncology
• Most advanced asset is D3S-001 with potential to be a best-in-class KRAS G12C inhibitor
• Data on lead asset D3S-001 to be presented at AACR on 8 April 2024

LONDON, GENEVA and ST HELIER, Jersey, April 8, 2024 /PRNewswire/ -- Medicxi, a leading European life sciences investment firm, today announces an investment of $40 million in D3 Bio, a biotechnology company based in Shanghai, China. D3 Bio is focused on the discovery, development, and registration of innovative medicines in oncology and immunology. The investment will accelerate the development of D3 Bio's innovative pipeline of oncology compounds. Francesco De Rubertis, Partner at Medicxi, will join the Board of D3 Bio. 

D3 Bio has built a pipeline of multiple oncology assets, all with first-in-class or best-in-class potential and foundational properties targeting immune-pathways or tumor driving mutations. Three compounds have already entered clinical trials:

D3S-001 is a new generation small molecule KRAS G12C inhibitor with differentiated properties and could potentially address the still large unmet need of patients with cancers harboring KRAS G12C mutations. D3S-001 is currently in phase II development in non-small cell lung cancer, colorectal cancer and pancreatic cancer. 

D3S-002 is a distinctively designed, novel small molecule ERK1/2 kinase inhibitor with promising activity, selectivity, and favorable safety profile in preclinical assessments. The combination of D3S-002 and D3S-001 has demonstrated promising and synergistic antitumor activity in preclinical models. D3S-002 is being tested in an ongoing phase I trial.

D3L-001, currently in Phase I development is a novel HER2×CD47 bi-specific antibody which has demonstrated potent and synergistic anti-tumor effect via HER2 guided CD47 co-blocking in both in vitro and in vivo models.

Francesco De Rubertis, Co-founder and Partner at Medicxi, said: "Our mission is to support the innovative genius of entrepreneurs by providing the critical capital, expertise and experience that form the all-important 'bridge' to pharma. George and his team are exceptional drug innovators focused on developing new treatments where there are enormous unmet patient and market needs."

George Chen, MD, Co-Founder, Chairman & CEO of D3 Bio, commented: "Medicxi's longstanding success has been built on its uniquely strong ties to pharmaceutical companies and its extensive team of world class subject matter experts, drug hunters and developers who act as partners for the innovators in which they are investing. Their expertise and knowledge will be instrumental in accelerating our mission to advance breakthroughs in cancer treatment to transform the lives of patients across the globe. With Medicxi's lead investment and participations from existing investors, D3 Bio successfully closed its Series A+ financing round."

D3 Bio, which is funded by globally renowned investors, including Boyu Capital, Matrix Partners China, HongShan, Temasek, and WuXi AppTec's Corporate Venture Fund, has now raised a total of $250m to date.

D3 Bio, which is funded by globally renowned investors, including Boyu Capital, Matrix Partners China, HongShan (formally known as Sequoia Capital China), Temasek, WuXi Biologics' Healthcare Venture Fund and WuXi AppTec's Corporate Venture Fund, has now raised a total of $250m to date.

D3 Bio will present data on D3S-001 at the upcoming American Association of Cancer Research (AACR) Annual Meeting, from April 5-10 in San Diego Convention Center in San Diego, California.

Notes to Editors

About Medicxi

Medicxi is a healthcare-focused investment firm with the mission to create and invest in companies across the full drug development continuum. Leveraging deep expertise in drug development and company creation spanning over two decades, Medicxi invests in early and late-stage therapeutics with a product vision that can fulfill a clear unmet medical need. For more information please visit: www.medicxi.com.

About D3 Bio

D3 Bio is a globally orientated, clinical stage biotechnology company that focuses on the discovery, development, and registration of new medicines in oncology and immunology. At D3 Bio, we fully leverage our clinical insight and biomarker strategy to guide our discovery effort and compound development, aiming to create novel and clinically meaningful new therapies for patients in need. D3 Bio is funded by globally renowned investors, including Boyu Capital, Matrix Partners China, HongShan, Temasek, and WuXi AppTec's Corporate Venture Fund. For more information please visit: www.d3bio.com.