Incyclix Bio Announces $30 Million Series B Financing Led by Boxer Capital
Funds to support clinical development of INX-315, the company’s lead Cyclin-Dependent Kinase 2 inhibitor
Sid Subramony, Ph.D., of Boxer Capital to join Incyclix Bio’s board of directors
RESEARCH TRIANGLE PARK, N.C., March 31, 2022 (GLOBE NEWSWIRE) — Incyclix Bio, LLC (formerly Arc Therapeutics, LLC), a next-generation cell cycle control company, today announced the closing of a $30 million Series B financing led by new investor Boxer Capital. Additional new investor RA Capital Management also participated in the round, along with existing investor Eshelman Ventures. Sid Subramony, Ph.D., Vice President of Boxer Capital, will join the Company’s board of directors. Nathaniel Brooks Horwitz, Principal of RA Capital Management, will join Incyclix Bio as a board observer.
“We are thrilled to welcome top-tier investors Boxer Capital and RA Capital who share our excitement and enthusiasm for the important work that Incyclix Bio has undertaken,” said Fred Eshelman, Co-Founder and Chairman of the Board and founder of Eshelman Ventures LLC. “Their investment further validates the next-generation precision cancer treatments on which Incyclix Bio is focused.”
Proceeds from the financing will be used to support the clinical development of Incyclix Bio’s lead compound, INX-315, a novel, potent and selective CDK2 inhibitor with compelling preclinical efficacy and safety data. Incyclix Bio expects to initiate a proof-of-concept Phase 1/2 study of INX-315 in CDK4/6-resistant and Cyclin E-overexpressed cancers, including breast and ovarian cancer.
“CDK2 is a cancer target with tremendous therapeutic potential to address the unmet medical need facing a significant number of patients,” said Dr. Subramony. “Incyclix Bio has leveraged their knowledge and experience targeting the CDK family to develop INX-315, a potent and selective CDK2 inhibitor, which we are eager to see in the clinic.”
“Incyclix Bio is entering an exciting time of growth as we transition from preclinical to clinical development and we are encouraged by the tremendous support of our new and existing investment partners,” said Patrick Roberts, Pharm.D., Ph.D., Chief Executive Officer and Co-Founder of Incyclix Bio. “This financing will enable us to validate INX-315 in the clinic and generate proof of concept data to support future development.”
About Incyclix Bio
Incyclix Bio is a next-generation cell cycle control company advancing precision treatments that target the aberrant proliferation driving many cancers. The company’s lead compound, INX-315, is a potent and selective cyclin-dependent kinase 2 (CDK2) inhibitor nearing clinical stage. Incyclix Bio is a scientific leader in understanding cyclin-dependent kinases (CDKs) and their role in the cell cycle as attractive therapeutic targets across many tumor types, including ovarian, breast and lung cancers. Headquartered in Research Triangle Park, NC, Incyclix Bio is founded by pioneers in CDK inhibitor discovery, research and development. For more information, visit incyclixbio.com.
About Boxer Capital
Boxer Capital, LLC, is a private biotechnology investment fund based in San Diego, California that invents and invests in new therapeutics across multiple indications in order to create value through improved patient care and outcomes. Founded in 2005, Boxer Capital invests in private and public companies representing the entire drug development lifecycle – from early-stage pre-clinical discovery assets to late-stage clinical and commercial stage companies.
About RA Capital Management
RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics. The flexibility of its strategy allows RA Capital to provide seed funding to startups and to lead private, IPO, and follow-on financings for its portfolio companies, both facilitating the crossover process and allowing management teams to drive value creation from inception through commercialization.
About Eshelman Ventures LLC
Eshelman Ventures LLC is an investment company primarily interested in healthcare companies. It was founded by Fred Eshelman, a highly regarded, successful entrepreneur with more than 40 years of executive, strategic, operational and financial leadership experience in the biopharmaceutical and healthcare industries. Previously, he founded and served as CEO and Executive Chairman of Pharmaceutical Product Development (PPDI, NASDAQ) prior to the sale of the company to private equity interests.
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