Orbimed Advisors joins existing investors Foresite Capital and TTM Capital, bringing total financing to $80M
SAN DIEGO, August 04, 2021--(BUSINESS WIRE)--XinThera, a company focused on building a small molecule oncology and immunology pipeline, announced today that the company has raised $50M in Series B financing. New investor Orbimed Advisors, LLC joined existing investors Foresite Capital and TTM Capital, bringing the total financing raised to $80M. The funds will be used to support the firm’s recruiting efforts and build its product pipeline.
XinThera brings together a founder and investors that previously worked together to incubate, fund and launch Kinnate Biopharma, a company that progressed from idea to IPO in less than three years. Stephen Kaldor, Ph.D., co-founder and chairman of XinThera has more than 25 years of experience in creating meaningful medicines and shareholder value.
"Steve Kaldor has assembled an exceptional group of drug developers with an ambitious vision to build a global organization working across multiple therapeutic areas," said Carl Gordon, Ph.D., CFA, General Partner at Orbimed.
The XinThera team comprises oncology and immunology experts with decades of experience in successfully developing more than seven marketed drugs and has progressed rapidly since its seed financing in February 2021. Kaldor is joined by co-founders Qing Dong, president and chief scientific officer, and Gene Hung, co-founder and SVP of research.
Series A investor TTM Capital brings a wealth of connections to the China market, a key part of XinThera’s strategy.
"I am excited to work with world class drug hunters with seven marketed drugs and dozens of clinical compounds under our belts. Our goal is to build a best-in-class pipeline of oncology and inflammation drugs," said Qing Dong, co-founder, president and chief scientific officer of XinThera. "I was particularly drawn to the opportunity to found a company with a clear global strategy from the onset."
In conjunction with the financing, Carl Gordon of Orbimed and Jim Tananbaum of Foresite Capital will join the company’s board of directors, which presently includes Stephen Kaldor, Qing Dong, and Michael Rome of Foresite Capital.
"Foresite Capital is thrilled to be working with Steve again," said Michael Rome, Ph.D., managing director of Foresite Capital. "The pace of development coming out of XinThera has been remarkable and speaks to the talent of the team."
About XinThera, Inc.
XinThera Pharmaceuticals, Inc. is a drug discovery company focused on building a small molecule oncology and immunology pipeline based in San Diego, CA. For more information, visit XinThera.com.
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