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HomeFunding China-Based IMPACT Therapeutics Secured $55.2 million in Series D+ Funding

[Funding Alert] China-Based IMPACT Therapeutics Secured $55.2 million in Series D+ Funding

IMPACT Therapeutics, a biopharmaceutical company based in China, has successfully concluded its Series D+ fundraising round, investing $55.2 million to expand its anti-cancer drug portfolio.

IMPACT Therapeutics, a biopharmaceutical company based in China, has successfully concluded its Series D+ fundraising round, investing $55.2 million to expand its anti-cancer drug portfolio.

Leading the Series D+ round were Beijing-based state capital investor Kingray Capital and healthcare-focused investment firm GTJA Investment Group, which oversees over $2.8 billion in assets.

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Yangzhou Guojin Group, a financial holding company supported by the government of Yangzhou City in eastern China, is one of the other investors. In the new agreement, current shareholders Lilly Asia Ventures and Xiamen C&D Emerging Industry Equity Investment re-upped.

The profits will be used by IMPACT, a company that specializes on the development of synthetic lethality and tailored anti-cancer medicines, to expedite the ongoing clinical development of several drugs, including its PARP1 selective inhibitors and several early pre-clinical initiatives.

With the funding, the company hopes to quicken the release of Senaparib, a powerful and cutting-edge PARP1/2 inhibitor that IMPACT found and developed for maintenance therapy of advanced ovarian cancer.

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The Chinese New Drug Application for Senaparib was accepted in August 2023 by the National Medical Products Administration, a national bureau in charge of drug control in China. The US Food and Drug Administration designated Senaparib and temozolomide fixed-dose combination capsules as orphan drugs a year prior for the treatment of adult patients with small-cell lung cancer.

IMPACT was founded in 2014 and received Series A funding later that year from healthcare-focused venture capital companies Lilly Asia Ventures and Cenova Ventures, as well as the corporate VC arm of WuXi AppTec, a biopharmaceutical company listed in Hong Kong.

Before the Series D+ round, its most recent equity financing was a $30 million Series C round led by Decheng Capital in August 2018. The Chinese biopharmaceutical company Junshi Biosciences led a $50 million Series C expansion investment for the company in December 2020.

About IMPACT Therapeutics

IMPACT Therapeutics is a biopharmaceutical company dedicated to the discovery and development of targeted anti-cancer therapeutics based on synthetic lethality.

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