D3 Bio, a China-based global clinical-stage biotechnology company focused on the discovery and development of innovative oncology therapeutics, announced on Tuesday that it has completed a USD108m Series B financing round.

Investors including IDG Capital and SongQing Capital backed the funding round, alongside existing investors WuXi AppTec's Corporate Venture Fund, Temasek, HSG, MPCi, and Medicxi.

D3 Bio intends to use the proceeds from this financing to support the planned global Phase III pivotal programme for its lead asset, elisrasib (D3S-001). These trials will assess elisrasib as both a monotherapy and in combination therapies for KRAS G12C-mutant cancers across key countries and regions, including the United States, China, and the European Union, to facilitate global regulatory submissions. The funding will also facilitate ongoing development of D3 Bio's comprehensive pipeline of targeted and immuno-oncology programmes.