D3 Bio Raises $108 Million Series B to Advance Global Phase III Trials for KRAS G12C Inhibitor Elisrasib
Key Insights
D3 Bio (search) completed a $108 million Series B financing round backed by IDG Capital (search), SongQing Capital (search), and existing investors including WuXi AppTec's Corporate Venture Fund and Temasek (search).
The funding will primarily support global Phase III pivotal trials for elisrasib (search) (D3S 001 (search)), a KRAS G12C (search) inhibitor, as both monotherapy and combination therapy for KRAS G12C-mutant cancers (search).
The clinical program is planned to span multiple geographies including the United States, China, and European Union to support global regulatory submissions.
Shanghai-based clinical-stage biotechnology company D3 Bio (search) has secured $108 million in Series B financing to advance its lead oncology candidate elisrasib (search) into global Phase III trials and expand its pipeline of targeted and immuno-oncology programs. The funding round attracted participation from new investors IDG Capital (search) and SongQing Capital (search), alongside existing backers including WuXi AppTec's Corporate Venture Fund, Temasek (search), HSG (search), MPCi (search), and Medicxi (search).
Lead Asset Advances to Pivotal Trials
The primary focus of the funding will be supporting global Phase III pivotal trials for elisrasib (search), also known as D3S 001 (search), a KRAS G12C (search) inhibitor targeting cancers with KRAS G12C mutations. The company plans to evaluate elisrasib both as a monotherapy and in combination regimens across multiple geographies, including the United States, China, and the European Union. These trials are designed to support global regulatory submissions for the candidate.
"The completion of our Series B financing demonstrates the strong confidence our investors place in our vision, scientific approach, business operations, and global development capabilities," said Dr. George Chen, Founder, Chairman, and CEO of D3 Bio (search). "This funding enables us to advance our lead program into late-stage clinical trials and further expand our pipeline of innovative therapies designed to benefit patients globally."
Pipeline Development Strategy
Beyond the lead KRAS G12C (search) program, D3 Bio (search) will use the proceeds to continue developing its broader portfolio of targeted therapies and immuno-oncology candidates. The company describes its pipeline as centered on novel mechanisms and designed to pursue first-in-class or best-in-class potential, supported by proprietary clinical insight and biomarker strategies.
D3 Bio (search) retains global rights to its programs and focuses on the discovery, development, and registration of new medicines in oncology and immunology. The robust involvement from both new and returning investors reflects widespread confidence in the company's innovative pipeline and global development strategy.
Investor Confidence in KRAS G12C Target
The financing round underscores growing investor interest in KRAS G12C (search)-targeted therapies, a historically challenging target in oncology that has gained significant attention following recent therapeutic breakthroughs. The mix of new and existing investors participating in the round demonstrates continued confidence in D3 Bio (search)'s approach to this target.
"This financing demonstrates that the swift and effective pursuit of the best- or first-in-class science is meaningful to society, and validates D3 Bio (search)'s leading innovation, scientific vision and development strategy," the company noted. "It also highlights the unique potential of elisrasib (search) for individuals affected by KRAS G12C-mutant cancers (search)."