China-based Shenzhen TargetRx, Inc., a developer of small-molecule kinase inhibitors, reportedly raised “hundreds of millions” of renminbi in a Series B financing round, with investors undisclosed. The proceeds will go towards pivotal clinical studies for TGRX-678 and TGRX-326, development of other drug candidates, and product pipeline expansion.
Company and Products
Founded in 2014, TargetRx boasts leading products TGRX-678, a fourth-generation BCR-ABL1 molecule with a novel mechanism of action, and TGRX-326, a third-generation EML4-ALK inhibitor. Both drugs have Phase I clinical trials well underway. In addition, the company expects two novel small molecules to enter the IND phase this year.-Fineline Info & Tech
