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China’s InxMed Raises $50 Million to Inhibit Cancer-Resisting FAKs
Nanjing, China-based InxMed has completed a Series B financing round to target the cells in the tumor microenvironment and overcome drug resistance for hard-to-treat tumors.
The round was led by CS Capital, with participation from three new investors AIHC Fund, Growth Fund and Hosencare Fund, as well as existing backer Ennovation Venture.
InxMed previously raised $19 million in Series A+ in 2020. The biotech has said it had raised tens of millions in US dollars in Series A.
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Addressing Cancer Resistance with FAK Inhibition
InxMed will push for further clinical trials of IN10018, a focal adhesion kinase (FAK) small molecule inhibitor. FAK is a downstream KRAS target, linked to resistance of chemotherapies and other targeted treatments such as those that target PD-1/PD-L1. Studies have shown that FAK inhibitors may be effective at inducing tumor cell apoptosis and reducing metastasis and angiogenesis.
IN10018 is undergoing clinical trials in the US and China for a number of indications including KRAS mutant metastatic melanoma, chemotherapy-resistant ovarian cancer and triple negative breast cancer.
InxMed has partnered with several pharmas over IN10018. In 2020, the company announced a collaboration with Merck that saw IN10018 paired with pembrolizumab to test against pancreatic cancer. An earlier deal with Roche put IN10018 in combination with cobimetinib against melanoma.
The drug was granted Fast Track designation by the US FDA to treat platinum-resistant ovarian cancer last August.
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A FAK Fail
FAK inhibitors have seemingly gone under the radar following the high-profile flop of Verastem’s drug VS-6063. The drug failed to set itself apart from the placebo in a Phase 2 trial in mesothelioma, causing the company’s stock to tank by 65%.
Verastem has since tried to pick up VS-6063 by pairing it with avelumab, a PD-L1 inhibitor being jointly developed by Merck and Pfizer, in a Phase 1/2 study for ovarian cancer.
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