Former ex-AstraZeneca executive George Chen has launched D3 Bio with $200 million Series A financing by Boyu Capital, Matrix Partners China, Sequoia Capital China, Temasek, and WuXi AppTec’s Corporate Venture Fund, among others. The funding will help the company support its development in oncology and immunology.
“We believe that a tremendous amount of medical innovation will be created by D3 Bio coupling China’s talent pool with the global R&D ecosystem,” said Yanling Cao, Partner, Boyu Capital.
What stands out with D3 Bio is its unique approach to drug discovery and development. The company goes beyond following the usual laboratory insights; instead, it identifies the areas to address.
“Our mission at D3 Bio is to build a global biotechnology company that develops innovative and more efficacious medicines for patients worldwide,” said George Chen, MD, co-founder, Chairman and CEO of D3 Bio. “The financing and support of our approach by reputable institutional investors give us a great start as we begin our journey to transform drug development to accomplish our mission.”
Dr. Chen himself is an oncologist by training and has a successful track record in the multinational pharmaceutical industry. He is building a seasoned, agile drug development and business management team to head the company.
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