TTM∙Family | XinThera has successfully been acquired by Gilead
On May 9, TTM Capital investee company XinThera Pharmaceuticals, Inc. was successfully acquired by Gilead Sciences, one of the world’s top ten pharmaceutical companies. This acquisition can strengthen Gilead’s layout of small molecules products in the field of oncology and inflammation.
Sciences
On May 9, 2023, U.S. time, XinThera Pharmaceuticals, Inc. (hereinafter referred to as "XinThera"), headquartered in San Diego, California, announced the successful acquisition of the company by the globally renowned pharmaceutical giant Gilead Sciences (NASDAQ: GILD). Through this acquisition, Gilead has obtained PARP1 small molecule inhibitors for cancer treatment and MK2 small molecule inhibitors for inflammatory disease treatment, which are expected to enter clinical trial stages by the end of this year. These two product pipelines have a market capacity exceeding $10 billion, with indications including ovarian cancer and rheumatoid arthritis, possessing significant market value and enhancing Gilead's product portfolio in the fields of oncology and inflammatory diseases.
TTM Capital has been investing in XinThera since April 2021, initially leading the Series A round and subsequently increasing its stake in July of the same year, with a total investment amount nearing 10 million USD. At the same time, XinThera has also received funding support from OrbiMed Advisors, the world's largest biomedical fund, and the well-known Foresite Capital.
XinThera is a deep incubation project by TTM Capital. In addition to financial support, TTM Capital introduces a wealth of resources in talent, product pipeline development, and the expansion of business in China, helping the company to be successfully acquired by one of the world's top ten pharmaceutical companies within just two years of its establishment. It is particularly important for early-stage preclinical or clinical-stage biotech companies to receive investments from large pharmaceutical companies. Statistics show that the involvement of large pharmaceutical companies in companies still in the preclinical stage not only reduces the R&D costs and risks for early innovative drug companies but also significantly increases the success rate of their drugs entering the market.
About XinThera Pharmaceuticals, Inc
XinThera was established in 2021, based on a structural drug discovery platform, focusing on fast follow small molecule drug development for First-in-Class and blockbuster drugs. Since receiving seed round financing in February 2021, the company has rapidly developed its business. The company was co-founded by Dr. Qing Dong, former Chief Scientist at Hengrui Pharmaceuticals, and seasoned entrepreneurs who had successfully started four companies in the U.S. and built several NASDAQ-listed companies. The R&D team consists of senior oncology and immunology experts with over twenty years of experience in new drug development, having successfully developed seven marketed drugs and a dozen clinical candidates.
Who we are
TTM Capital is a professional investment institution focused on early-stage investments in the healthcare sector. The founding and managing team been involved in the medical and biotechnology fields for many years, with a background in medical investments from top domestic funds to full industry chain experience from globally leading multinational pharmaceutical companies. TTM Capital mainly focuses on high-quality investment opportunities in the fields of biopharmaceuticals, medical devices and in vitro diagnostics driven by cutting-edge technology, focusing on segmented tracks with significant advantages, focusing on the global medical market and the "unmet needs" of patients. Persist in empowering and creating synergistic value for invested companies, jointly promote medical innovation, and create value for society.
