IDRx, Inc. raised $120 million in a Series B financing led by RA Capital Management to advance the development of its lead product candidate IDRX-42 for gastrointestinal stromal tumors.

Aug 07, 2024•about 1 year ago

Amount Raised

$120 Million

Round Type

series b

PlymouthHealth CareTherapeuticsPharmaceuticalBiotechnology

Investors

Merck K Ga AForge Life Science PartnersNextech Invest Ltd.Casdin CapitalAndreessen HorowitzRock Springs CapitalBlackstone Multi Asset InvestingCommodore CapitalRa Capital Management

Description

IDRx has completed an oversubscribed $120 million Series B Preferred Stock financing to support its ongoing clinical studies. The financing was led by RA Capital Management and includes participation from several strategic investors to further the development of IDRX-42.

Company Information

Company

IDRx

Location

Plymouth, Massachusetts, United States

About

IDRx is a clinical-stage biopharmaceutical company dedicated to transforming cancer care with intelligently designed precision combination therapies. Inspired by a few curative combination regimens in cancer and the successful drug cocktails purposely engineered in other disease areas such as cystic fibrosis and antivirals, IDRx aims to address the limitations of today’s precision cancer medicines with highly selective, engineered drug combinations to stop key tumor escape mechanisms and prolong response to therapy. IDRx’s pipeline programs include small molecule tyrosine kinase inhibitors, IDRX-42 and IDRX-73, designed to inhibit key genetic drivers and drug-resistant mutations of gastrointestinal stromal tumor (GIST). Founded in 2021, IDRx’s leadership team has extensive experience in drug development and collectively has been involved in the discovery, development and commercialization of more than 10 approved drugs. To learn more, please visit www.idrx.com and follow us on LinkedIn.

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