TTM Capital increases its stake, completing additional investment in XinThera's Series B round
Recently, XinThera Pharmaceuticals, Inc., focused on tumors and autoimmune diseases, completed a $50 million Series B financing round, led by OrbiMed Advisors, with TTM Capital as a Series A investor and Foresite Capital making additional investments. So far, XinThera has raised a total of $80 million in financing. The funds raised in this round will mainly be used for further talent expansion and the expansion of the product pipeline.
Recently, the drug development company XinThera, focused on tumors and autoimmune diseases, completed a $50 million Series B financing round, led by OrbiMed Advisors, with TTM Capital as a Series A investor and Foresite Capital making additional investments. So far, XinThera has raised a total of $80 million in financing. The funds raised in this round will mainly be used for further talent expansion and the expansion of the product pipeline.
XinThera was founded in 2021 and is headquartered in San Diego, California, USA. XinThera focuses on fast follow small molecule drug development for First-in-Class and blockbuster drugs based on a structure-based drug discovery platform, primarily targeting the fields of oncology and autoimmune diseases, which have huge markets but challenging druggable targets. Since receiving seed funding in February 2021, the company has experienced rapid business growth.
Dr. Stephen Kaldor, the founder of XinThera, has extensive experience in biotech entrepreneurship, having co-founded and established Kinnate Biopharma with investors, completing the company's IPO in less than three years. As a serial entrepreneur, Stephen Kaldor has over 25 years of experience in developing high clinical value drugs and managing the biopharmaceutical industry. The XinThera team consists of senior oncology and immunology experts, including co-founder, president, and chief scientist Dr. Qing Dong, and co-founder and senior vice president of R&D Dr. Zhen Hong, who have more than 10 years of experience in new drug development and have successfully developed seven marketed drugs and dozens of clinical candidates.
TTM Capital has been investing in XinThera since the Series A round and has continued to increase its stake in subsequent rounds, while also bringing in rich resources to support its development of the Chinese market, helping the company take its first step in global expansion. "We are very pleased to collaborate with Dr. Dong at such an early stage of the company's development. This is a team with a track record of continuous successful entrepreneurship," said LILY ZHANG, founder and managing partner of TTM Capital. "We hope to leverage TTM's abundant resources and the team's expertise to introduce talent, projects, and resources for XinThera, rapidly expanding its business in China and continuously supporting XinThera's rapid development." Qing Dong, co-founder, president, and chief scientist of XinThera, stated, "Since the beginning of my entrepreneurial journey, I have been committed to building an innovative pharmaceutical company with a clear global strategy. Our goal is to establish a world-class pipeline of oncology and inflammation drugs."
Dr. Carl Gordon, a partner at OrbiMed, stated, "Steve Kaldor has assembled an outstanding new drug development team with great ambitions, dedicated to building a global enterprise across therapeutic areas."
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.
