Home > News > featured news > NiKang Therapeutics Completes $200 Million Series C Financing to Advance Highly Differentiated Small Molecules Addressing Difficult-to-Drug Targets

MEDICAL

NiKang Therapeutics Completes $200 Million Series C Financing to Advance Highly Differentiated Small Molecules Addressing Difficult-to-Drug Targets

NiKang Therapeutics | May 31, 2021

NiKang Therapeutics Inc., a clinical-stage biotech company focused on developing innovative small molecule oncology medicines to assist patients with unmet medical needs; today announced the completion of an oversubscribed $200 million Series C financing led by Cormorant Asset Management, HBM Healthcare Investments, and Octagon Capital Advisors with participation from a premier syndicate of funds, including new investors EcoR1 Capital, Perceptive Advisors, Wellington Management, Ally Bridge Group, Pavilion Capital, funds and accounts managed by BlackRock, RA Capital Management, Surveyor Capital (a Citadel company), Samsara BioCapital, PFM Health Sciences, Invus, Janus Henderson Investors and Logos Capital. All existing investors, including CBC Group, RTW Investments, LP, Lilly Asia Ventures, Matrix Partners China, and Casdin Capital, participated in the financing. About the funding, Bing Yao, Ph.D., former CEO and chairman of Viela Bio, and Ting Jia, Ph.D., founder and chief investment officer of Octagon Capital Advisors, will join NiKang’s Board of Directors.

“We are thrilled to have such an outstanding group of investors as our shareholders,” said Zhenhai Gao, Ph.D., co-founder, president, and chief executive officer of NiKang. “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.”

“This financing is a testament to the quality of our science and team,” Kelsey Chen, Ph.D., MBA, chief financial officer, added. “Since joining NiKang, I have witnessed the passion and dedication of a group of talented scientists who are devoting their lives to advancing treatments for patients. We are grateful to be recognized by such a high-caliber group of investors.”

“NiKang has made remarkable progress over the last eight months since our initial investment,” said Ting Jia, Ph.D., a chief investment officer of Octagon. “We are impressed by the team’s accomplishment. We believe NiKang’s unique approach to attacking difficult-to-drug targets offers promising opportunities to develop breakthrough treatments for cancer patients. We are excited to co-lead the series C financing and partner with the NiKang team to accelerate its growth.��

“We are proud of what NiKang has achieved since its inception,” said Sean Cao, executive chairman of NiKang and managing director of CBC Group, which incubated the company. “The strength of this group of investors validates NiKang’s achievements and demonstrates their confidence in NiKang’s potential to grow into a leading innovative drug company.”

Proceeds will be used to advance the company’s lead drug candidates into the clinic, expand the pipeline, and fund internal drug discovery programs.

About NiKang Therapeutics
NiKang Therapeutics is a clinical-stage biotech company focused on discovering and developing innovative small molecule oncology medicines to assist patients with unmet medical needs. Our target selection is driven by deep insights into disease biology and molecular pathways. Our discovery approach is informed by target structure biology and capitalizes on structure-based drug design. The successful implementation of our strategy enables us to rapidly and efficiently discover and advance proprietary drug candidates with the most desirable pharmacological features into clinical studies. We strive to bring transformative medicines to patients in need.

Spotlight

The Intersection of Biology and AI | Nasdaq Biotech Spotlight

we sat down with Absci Founder and CEO, Sean McClain to discuss $ABSI’s mission, vision, and innovations as a member of the Nasdaq Biotechnology Index.

More featured news

Spotlight

The Intersection of Biology and AI | Nasdaq Biotech Spotlight

we sat down with Absci Founder and CEO, Sean McClain to discuss $ABSI’s mission, vision, and innovations as a member of the Nasdaq Biotechnology Index.

Related News

INDUSTRIAL IMPACT, MEDICAL

Inscripta Announces Acquisition of Infinome Biosciences and Sestina Bio

Inscripta, Inc. | January 24, 2023

Inscripta®, a leading global life science technology firm, recently announced the acquisition of two synthetic biology pioneers, Infinome Biosciences and Sestina Bio, which will advance Inscripta's strategy of developing and commercializing biomanufactured products for a wide expanse of industrial and consumer markets. The acquisitions show Inscripta's belief in the bioeconomy's commercial potential and the power of genome engineering to expedite biomanufacturing innovation. Inscripta's CEO, Sri Kosaraju, commented, "Tackling the unprecedented opportunity to improve global health and sustainability through biomanufacturing requires a strong combination of talent, experience, technology, and commercial assets." He added, "Infinome and Sestina Bio allow us to advance our strategy and complement our technological innovation and capabilities needed for creating the next generation of biobased manufacturing products and processes." (Source- PR Newswire) Before the acquisition, Infinome was closely associated with Inscripta. By utilizing Inscripta's genome engineering technology, it created the GenoScaler™, a proprietary strain engineering platform designed to optimize microorganisms for biomanufacturing rapidly. Sestina Bio brings an innovative, data-driven approach to developing and identifying strains that survive the rigors of commercial scale-up. Inscripta is building on its tradition of technological innovation with the inclusion of Infinome and Sestina Bio and has already begun applying its cutting-edge technology to develop products for a diverse set of industrial and consumer markets. In addition, Inscripta has a number of collaborative and proprietary products in various phases of development. One such example of an announced partnership to develop and commercialize multiple bio-manufactured goods is Kalsec® Inc., a food and beverage ingredient solutions firm. Separately, Inscripta is engaging in commercial discussions about its previously announced development of a ready-to-scale microbial strain that produces Bakuchiol, a natural retinol alternative. About Inscripta, Inc. Founded in 2015, Inscripta is a life science technology firm dedicated to using biomanufacturing to create a cleaner, healthier, and more sustainable world. It enables scientists to strengthen and expand domestic biomanufacturing and encourages the development of novel, safe, and secure biotechnology technologies. Its automated OnyxTM platform, which includes an instrument, consumables, tests, and software, makes CRISPR-based genome engineering accessible to any research lab. Inscripta supports customers globally through its facilities in Boulder (Colorado), San Diego and Pleasanton (California) and Copenhagen (Denmark)

INDUSTRIAL IMPACT

Resilience Partners with a Major Pharmaceutical Company for Strategic Biomanufacturing

Resilience | February 20, 2023

National Resilience, Inc. (Resilience), a manufacturing company with a technology-focused mission to improve access to complex medications, recently announced a 10-year biomanufacturing partnership with a top pharmaceutical company for its portfolio of services in process and analytical development, drug substance manufacturing, and drug product manufacturing. The extensive agreement covers prospective biologic, vaccine, nucleic acid, cell, and gene therapy manufacturing. Resilience’s recently acquired facility in Cincinnati, Ohio, is its worldwide center of excellence to produce commercial medicinal products, and will deliver the first product as stipulated under the agreement. The development of complicated pharmaceuticals, such as cell and gene therapies, has not kept up with the rate of scientific advancements that are supporting them. Resilience brings together exceptional minds in science and engineering to bridge this gap with access to state-of-the-art technology. Rahul Singhvi, Sc.D., Chief Executive Officer of Resilience, said, “The partnership announced today is a major milestone for Resilience.” He further added, “We are grateful to have this opportunity to work with our partner to deliver important, life-saving medicines to patients. We understand the trust placed with us to manufacture the medicine with the highest quality, regulatory compliance, and reliability. We are committed to maintaining a responsible manufacturing operation that exceeds the expectations of our partners and enables us to make a meaningful impact on global healthcare.” (Source – Business Wire) With the addition of this alliance to its expanding commercial portfolio, the company anticipates generating record revenues in 2023. About Resilience Resilience is a technology-focused biomanufacturing startup. The company intends to increase access to sophisticated medications. The firm is establishing a long-term network of cutting-edge, all-inclusive manufacturing solutions to guarantee that the therapies of today and the future may be produced efficiently, securely, and at scale. Resilience aims to continuously develop the science of biopharmaceutical manufacture and development, so their partners concentrate on the discoveries that enhance patients' lives and safeguard biopharmaceutical supply chains from future disruptions.

INDUSTRIAL IMPACT, DIAGNOSTICS

Vaxxinity Announces First Subjects Dosed in Phase 1 Clinical Trial of VXX-401, Investigational Anti-PCSK9 Vaccine to Treat Hypercholesterolemia

Vaxxinity, Inc. | March 21, 2023

Vaxxinity, Inc. a U.S. company pioneering the development of a new class of immunotherapeutic vaccines, announced that the first subjects have been dosed in a randomized, double-blind, placebo-controlled Phase 1 clinical trial of VXX-401, an investigational vaccine designed to lower low-density lipoprotein (LDL) cholesterol, a known factor contributing to heart disease, by targeting proprotein convertase subtilisin/kexin type 9 serine protease (PCSK9). Heart disease remains the leading cause of death globally, claiming over 18 million lives per year, despite the existence of approved treatments that lower LDL. “This is an exciting milestone for VXX-401 and Vaxxinity in our pursuit to vaccinate the world against heart disease with a preventative option that is convenient and accessible, addressing an unmet need to combat the leading global cause of death,” said Mei Mei Hu, Chief Executive Officer of Vaxxinity. “PCSK9 antibody therapies are well-tolerated and effective, but huge unmet patient need remains. In order to solve the problem of heart disease, the world needs a scalable, accessible technology that can reach the hundreds of millions, if not billions of people at risk. With an LDL-lowering vaccine we can potentially offer an option that’s cost-effective, safe, convenient, long-acting, and deployable.” The multicenter Phase 1 dose-escalation trial aims to enroll 48 subjects aged 18 to 75 years, with LDL cholesterol between 2.59 and 4.89 mmol/L. The objectives of the trial are to evaluate safety, tolerability and immunogenicity (as measured by serum anti-PCSK9 antibody titers). Pharmacodynamics of the immune response will be measured by LDL cholesterol levels, an established model of PCSK9 inhibition in hypercholesterolemia. “We’re excited to get this first-in-human trial of VXX-401 started. The concept of a vaccine for cholesterol could be a game-changer in cardiovascular health due to its potentially very broad reach and impact on human health,” said Professor Stephen Nicholls of Monash University and Victorian Heart Hospital in Australia. “Targeting PCSK9 with a monoclonal antibody is a proven and effective approach for lowering cholesterol and reducing the risk of heart attack and stroke. Despite the availability of statins and the approval of PCSK9-targeting medicines, there is still a need for new therapies. VXX-401 has the potential to extend the use of PCSK9 inhibition to the full population who could benefit.” Earlier this month, Vaxxinity presented pre-clinical data at the American College of Cardiology/World Congress of Cardiology Annual Scientific Session demonstrating that VXX-401 induced robust anti-PCSK9 antibodies and durable LDL cholesterol lowering without affecting high-density lipoprotein (HDL) cholesterol levels, indicating that VXX-401 has the potential to be a safe and effective LDL lowering therapy. Data in non-human primate studies show that VXX-401 was well tolerated and provided durable and significant LDL reduction of 30% to 50% change from baseline. The data also demonstrate VXX-401’s immunogenicity: purified antibodies from immunized animals bound to human PCSK9 with high affinity, and exhibited a dose-dependent functional inhibition of PCSK9 in vitro. Additionally, Peripheral Blood Mononuclear Cells (PBMCs) collected prior to immunization did not release cytokines upon stimulation with various components of the vaccine, suggesting that VXX-401 may safely overcome immune tolerance. About VXX-401 VXX-401 was designed using Vaxxinity’s proprietary synthetic peptide vaccine platform and is being developed for the treatment of hypercholesterolemia. The platform is designed to harness the immune system to convert the body into its own natural “drug factory,” stimulating the production of antibodies. VXX-401 is designed to induce robust, long-acting antibodies against PCSK9 in order to lower LDL cholesterol. About Vaxxinity Vaxxinity, Inc. is a purpose-driven biotechnology company committed to democratizing healthcare across the globe. The company is pioneering a new class of synthetic, peptide-based immunotherapeutic vaccines aimed at disrupting the existing treatment paradigm for chronic disease, increasingly dominated by monoclonal antibodies, which suffer from prohibitive costs and cumbersome administration. The company’s proprietary technology platform has enabled the innovation of novel pipeline candidates designed to bring the efficiency of vaccines to the treatment of chronic diseases, including Alzheimer’s, Parkinson’s, migraine, and hypercholesterolemia. The technology is also implemented as part of a COVID-19 vaccine program. Vaxxinity has optimized its pipeline to achieve a potentially historic, global impact on human health.