DOVER, Del. and SHANGHAI, June 1, 2018 /PRNewswire/ -- Xynomic Pharma, a clinical stage US-China oncology drug development company, today announced that it has completed Series B Crossover financing, led by experienced healthcare investors Northern Light Venture Capital, Zhongshan Bison Healthcare Investment Limited and Hakim Unique Internet Company Limited. All existing investors including Prosperico Ventures and Mr. Yinglin Mark Xu, Xynomic Pharma's founder and Chairman, participated in this round of financing.
The Series B proceeds will be used to initiate eight clinical trials, four of which are pivotal, in the next 12 months:
- Xynomic's lead drug candidate Abexinostat (Abex) combined with Pazopanib to treat patients with locally advanced or metastatic renal cell carcinoma (global pivotal, fast track designation, protocol already OK'ed by the US FDA);
- Abex as a monotherapy against r/r follicular lymphoma (global pivotal, accelerated approval, protocol already OK'ed by the US FDA);
- Abex as a monotherapy against r/r follicular lymphoma in China (pivotal trial);
- Abex as a monotherapy against r/r diffuse large B-cell lymphoma (DLBCL) in China (pivotal trial);
- Abex combined with Imbruvica against r/r DLBCL and r/r mantel cell lymphoma (Phase 1/2, in partnership with Janssen and Memorial Sloan Kettering Cancer Center);
- Abex combined with Keytruda against multiple solid tumors (Phase 1b, in partnership with University of California, San Francisco);
- Abex combined with a leading breast cancer drug against Estrogen Receptor (ER)+ breast cancer (Phase 1/2);
- Xynomic's XP-102 (a 2nd generation, potentially best-in-class pan-RAF inhibitor) against colorectal cancer and melanoma (Phase 1).
Xynomic has also launched its own R&D Innovation Center in Shanghai in May 2018 to discover and develop small molecule oncology drugs focused on kinase inhibition, immuno-oncology and epigenetic modification. The center is designed to have fully integrated in-house capabilities from lead identification to IND enabling studies. The first two molecules are XP-103, a TRK/Fra-1 inhibitor, and XP-104, a RET inhibitor.
About Xynomic Pharmaceuticals, Inc.
Xynomic Pharmaceuticals, Inc. is a clinical stage oncology-focused biopharmaceutical company. Its lead drug candidate Abexinostat has already been tested on approximately 600 patients worldwide in 18 clinical trials, showing a more favorable safety profile among HDAC products and significant clinical benefits in patients with RCC and non-Hodgkin's lymphoma. Xynomic's pipeline also includes XP-102 (BI 882370), XP-103 and XP-104.
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SOURCE Xynomic Pharmaceuticals, Inc.