RTW Venture backs NiKang Therapeutics Series C – NiKang Therapeutics, Inc announced on 26 May 2021 that it had completed a $200m Series C financing round. RTW Venture alongside other investment vehicles of RTW Investments, LP participated in the financing round.
Investors in the Series C include Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital; syndicates of funds, including new investors EcoR1 Capital, Perceptive Advisors, Wellington Management, Ally Bridge Group, Pavilion Capital, funds and accounts managed by BlackRock, RA Capital, Surveyor Capital (a Citadel company), Samsara BioCapital, PFM Health Sciences, Invus, Janus Henderson Investors and Logos capital; all existing investors including CBC Group, RTW Investments, LP, Lilly Asia Ventures, Matrix Partners China, and Casdin Capital.
NiKang is a US-based privately held biotechnology company focused on discovering and developing innovative small molecule oncology medicines. NiKang intends to use the proceeds from the financing round to advance the company’s lead drug candidates into the clinic, expand the pipeline and fund internal drug discovery programmes.
RTW Venture and its investment manager led NiKang’s $50 Million Series B round in September 2020, upon which Roderick Wong, MD, managing partner and chief investment officer of the investment manager, joined NiKang’s board of directors.