IDRx, Inc is hoping to use its latest round of venture capital funding to advance its drug IDRX-42 to tackle a sarcoma subtype, gastrointestinal stromal tumor (GIST), that remains underserved despite targeted therapies being available for many years.
Key Takeaways
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IDRx raised $120m in a series B round that it plans to use to advance its lead candidate, IDRX-42, into a pivotal trial next year.
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The company is developing the drug for gastrointestinal stromal tumor, a form of sarcoma, and hopes to challenge the second-line standard of care, sunitinib
The Plymouth, MA-based company said 7 August that it had raised $120m in a series B funding around to finance further development of IDRX-42, a KIT inhibitor meant to target all major categories of activating and resistance mutations in patients with KIT-mutant GIST. The funding will support the ongoing Phase I/Ib StrateGIST 1 study, and IDRx plans to start a pivotal Phase III study in second-line GIST next year
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