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Incyclix Bio Raises $30M in Series B Financing

NEW YORK – Incyclix Bio on Thursday said it raised $30 million in a Series B funding round led by Boxer Capital.

Other investors participating in the financing included RA Capital Management and existing investor Eshelman Ventures. Concurrent with the funding, Sid Subramony, VP of Boxer Capital, will join Incyclix's board of directors and Nathaniel Brooks Horwitz, principal of RA Capital Management, will join the board as an observer.

Incyclix, based in Research Triangle Park, North Carolina, will use the funding to initiate a Phase I/II trial of its lead candidate, INX-315, a CDK2 inhibitor. The company expects to begin the proof-of-concept study in CDK4/6-resistant and cyclin E-overexpressed tumors, including breast and ovarian cancer.

The trial will include two expansion arms: one with hormone receptor-positive breast cancer patients who have progressed on a CDK4/6 inhibitor and another in cyclin E-high ovarian cancer patients, an Incyclix spokesperson said in an email. Cyclin E status will not be evaluated in the breast cancer arm, but researchers will screen patients in the ovarian cancer cohort for cyclin E overexpression, according to the firm.

"Incyclix Bio is entering an exciting time of growth as we transition from preclinical to clinical development and we are encouraged by the tremendous support of our new and existing investment partners," Incyclix CEO Patrick Roberts said in a statement. "This financing will enable us to validate INX-315 in the clinic and generate proof-of-concept data to support future development."

The company launched in August 2020, having garnered an exclusive license to the CDK2 inhibitor program from G1 Therapeutics. In 2020, the firm raised $6 million in Series A funding.