Building on discovery platform and early deals, CBC-backed NiKang adds $200M in crossover series C round

Crossover firms led by Bihua Chen’s Cormorant, Swiss investor HBM and Ting Jia’s Octagon have invested in a $200 million series C round for four-year-old NiKang, a start-up incubated by CBC Group that aims to turn insights into structural biology into small-molecule therapeutics for oncology.

NiKang Therapeutics Inc.’s program targeting HIF2A has yet to reach the clinic, but could deliver first-in-human data by early next year, according to a source with knowledge of the company who did not wish to be identified. The small molecule is NiKang’s most advanced wholly-owned program, although the biotech has out-licensed another to Erasca Inc. and is collaborating on a third with Hansoh Pharmaceutical Group Co. Ltd. (HKEX:0392)...