IDRx Series B Funding Raises $120M for TKI treatment

The clinical development of IDRX-42, the company’s flagship cancer candidate, will be financed by $120 million received in a Series B fundraising round by US-based precision pharmaceuticals startup IDRx.

Several US investment firms, including Commodore Capital, Blackstone Multi-Asset Investing, and RA Capital Management, were among the financiers of preference shares. With the money raised, the business intends to continue funding the Phase I trial and begin a pivotal study assessing the treatment in patients with gastrointestinal stromal tumours (GIST).

IDRX-42 is a selective tyrosine kinase inhibitor (TKI) is IDRX-42. Merck KGaA granted IDRx a licence to use the treatment in 2022. The FDA has designated it as an orphan medication for the therapy of GIST.

Positive trial preliminary findings, including a 23% objective response rate (ORR) among all patients who had undergone a median of four previous rounds of treatment, were released by the business in June. Participants taking IDRX-42 as a second-line medication had an ORR of 43%; all of these patients experienced partial reactions.