NiKang Therapeutics Announces Completion of $200 Million Series C Financing to Advance Highly Differentiated Small Molecules Addressing Difficult-to-Drug Targets
“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 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 finance officer, added. “Since joining NiKang, I have witnessed the passion and dedication by 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., chief investment officer of Octagon. “We are impressed by the team’s accomplishment. We believe NiKang’s unique approach of attacking difficult-to-drug targets offers promising opportunities in developing 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 molecules oncology medicines to help 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.
For more information, please visit http://nikangtx.com
Chief Financial Officer
Source: NiKang Therapeutics Inc.