NiKang Therapeutics, Inc., a biotech company,announced the completion of Series B financing for $50 million led by RTW Investments, LP with additional support from new investors including Lilly Asia Ventures, Casdin Capital, HBM Healthcare Investments, Matrix Partners China and Octagon Capital.
Existing investor CBC Group (formerly C-Bridge Capital) also participated. Roderick Wong, M.D., Managing Partner and Chief Investment Officer of RTW Investments, LP, will join NiKang’s board of directors.
NiKang will use the proceeds to support the development of several promising oncology programs and enhance the company’s drug discovery pipeline.
“We are very honored by the strong support from such a distinguished group of investors. This is a testimony to the strength of our pipeline and the capability of our dedicated team.” said Zhenhai Gao, Ph.D., co-founder and president of NiKang. “With this round of financing, we are well-positioned to advance our innovative therapeutics pipeline to help patients with unmet medical needs.”
“NiKang has made remarkable progress identifying development candidates for some of the most difficult-to-drug targets. We are very pleased to partner with NiKang to support the company’s mission to discover and develop innovative and impactful therapeutics for patients around the world,” said Dr. Roderick Wong.
“We are very proud of what NiKang has achieved since its inception in late 2017,” said Sean Cao, Board Director of NiKang and Managing Director of CBC Group, which incubated the Company. “The support from such an impressive syndicate of investors validates NiKang’s early achievements. We are very confident that NiKang will continue to execute on the pipeline and discovery platform.”
NiKang Therapeutics, headquartered at the Delaware Innovation Space start-up center near Wilmington, is an early-stage biotech company focused on discovering and developing innovative small molecule oncology medicines to help patients with unmet medical needs.
For more information, visit http://nikangtx.com.